Oil falls to four-month low after Iran-US deal
Oil prices dropped to their lowest levels since March after Iran and the United States announced a tentative agreement to cease hostilities and reopen navigation through the Strait of Hormuz. West Texas Intermediate crude hit $81.03 per barrel, down 4.54%, while Brent crude reached $83.93, down 3.89%. U.S. President Donald Trump confirmed the reach of a peace agreement, which was also endorsed by the Pakistani Prime Minister, with the signing scheduled to take place in Switzerland on Friday.
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