Oil declines 5% after US-Iran deal
Oil prices declined by approximately 5% following the announcement that the United States and Iran have reached a preliminary agreement to end the conflict and resume navigation through the Strait of Hormuz. Brent crude fell to $83.30 per barrel, while West Texas Intermediate dropped to $80.60, with expectations that the strait will be opened within 30 days according to an Iranian arrangement. The agreement aims to restore oil flows and establish stability in the region after markets were deprived of millions of barrels during the crisis.
Size: 120%Text Size
Notice: This Is an AI-Generated Summary
Comments (0)