Oil slips over 4 percent after US, Iran reach peace deal, reopen Strait of Hormuz

SINGAPORE: Oil prices ​slipped on Monday after US President Donald Trump ‌and Iran’s ‌deputy ​foreign minister ‌said ⁠they ​have reached ⁠a deal to halt the ⁠war and ‌to resume ‌traffic ​through ‌the ‌Strait of Hormuz. Brent crude futures fell $3.51, ‌or 4.02 percent, to $83.82 by 2203 ⁠GMT ⁠and US West Texas Intermediate was at $80.95 a barrel, ​down $3.93, ​or 4.63 percent.

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