Erika Herskowitz

Meanwhile, crude dropped more than 5% to around $91 a barrel.

Amid optimism, a deal will help restore the flow of oil through the vital Middle East artery.

On Wall Street, U.S.

markets are closed for Memorial Day, but stocks traded overseas.

The FTSE in London closed ahead nearly a quarter of a percent.

The CAC in Paris, up nearly 2%.

The DAX in Germany, 2% higher.

And the Nikkei in Japan led a rally in Asia, closing above 65,000 for the first time.

It was up 2.8%.

The Hang Seng in Hong Kong added a tenth of a percent.

China's CSI 300 gained one and a half percent.

As the nation observes Memorial Day, President Trump paid a visit to Arlington National Cemetery.

There, on hallowed ground, he delivered remarks and took part in a wreath-laying ceremony as America honors the men and women who have died while serving their country.

Overseas, Pope Leo is warning about the dangers of artificial intelligence.

We get more from Bloomberg's Monica Ricks.

The threat of a leaking toxic chemical tank exploding in Garden Grove, California, has been eliminated.

The Orange County Fire Authority made the announcement this morning after conducting an overnight inspection.

The threat of an explosion being eliminated could be the first step toward lifting evacuation orders for more than 50,000 residents.

Texas Attorney General Ken Paxton is riding high into the final days of the U.S.

Senate primary runoff against incumbent John Cornyn, now with the weight of President Trump's backing.