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Oil dips after Iran Strait deal
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Oil prices dropped significantly after U.S. President Donald Trump announced an agreement with Iran to reopen the Strait of Hormuz and resume oil shipping through it. U.S. crude futures declined by 4.8%, reaching $80.80 per barrel, while Brent crude touched $83.89, down 3.9%. Trump confirmed that the Strait of Hormuz would be reopened to ships without levying fees and that the naval blockade on Iran would end immediately, leading to expectations of increased oil flow and reduced disruptions in the global energy market.
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