Oil dips below $80
Oil prices dropped significantly after the United States and Iran signed a temporary agreement aimed at ending their war and opening the Strait of Hormuz. This led to a decrease in Brent crude futures by 2.26%, falling to $77.73 per barrel, and West Texas Intermediate (WTI) crude by 2.80%, down to $74.64 per barrel. This agreement represents a temporary step regarding oil transit through the strait and paves the way for easing U.S. sanctions on Iran, with full resumption of oil flows expected within 30 days. However, important issues such as Iran’s nuclear program remain unresolved.
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