US-Iran deal: When will oil prices fall?
AI Summary
Following announcement of a peace agreement between the United States and Iran, the Strait of Hormuz is expected to reopen after remaining closed for over three months, unblocking global petroleum shipments. Global crude prices declined sharply in response, with Brent crude falling to approximately $84 per barrel and US crude to around $81, while Asian equity markets surged, with major indices gaining more than 5 percent.
A potential US-Iran deal to end the war and reopen the Strait of Hormuz could ease the global energy crunch, but oil prices and supplies may take months to stabilize as shipping restarts and infrastructure recovers. ...
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