Prices for crude oil and refined products fell sharply on Monday as traders moved to quickly unwind a substantial geopolitical risk premium after Washington and Tehran announced a peace agreement that would pave the way for the reopening of the Strait of Hormuz.
Crude Futures Turn Lower as Peace Deal Shifts Trading Range
Oil markets have begun looking beyond the conflict itself and toward a future in which Mideast crude exports return to international markets — albeit gradually.
43 words~1 min read
