US-Iran deal triggers 4% oil decline

Oil prices dropped by more than 4% after U.S. President Donald Trump and Iran's Deputy Foreign Minister announced an agreement to cease hostilities and resume navigation through the Strait of Hormuz. Brent crude futures fell to approximately $83.82 per barrel, and West Texas Intermediate to around $80.95, with expectations of renewed oil flows through the strait and diminishing concerns over global supplies.

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