Oil hits three-month low after US-Iran deal
Oil prices dropped by approximately $4 per barrel to their lowest levels in three months, after U.S. President Donald Trump announced the signing of a memorandum of understanding with Iran aimed at ending the conflict and reopening the Strait of Hormuz. The agreement led to a decrease in Brent crude to $83.22 and West Texas Intermediate to $80.54 per barrel, with expectations of renewed oil supply flows and reduced risks to the global market following the halt of more than 14 million barrels per day in production.
Size: 120%Text Size
Notice: This Is an AI-Generated Summary
Comments (0)