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Oil slips $4 on peace deal to reopen Strait of Hormuz
RTÉ News (Ireland)
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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.
Oil prices slipped to their lowest since March today after US President Donald Trump and Iran's deputy foreign minister said they had reached an initial deal to end the war and to resume traffic through the Strait of Hormuz. ...
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