Gorgieva: Oil Prices to Drop After Deal

The Managing Director of the International Monetary Fund, Kristalina Georgieva, stated that oil prices are expected to decline slightly after the temporary agreement between the United States and Iran which allows for the resumption of shipping through the Strait of Hormuz. However, she does not anticipate a collapse. Market sentiment has improved following the signing of the memorandum of understanding that included reopening the strait, leading to a drop in oil prices of over 3%, with expectations of restored navigation, replenishment or even increased reserves amid abundant shipments.

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