Crude-sensitive stocks surged as oil prices dropped significantly following an agreement between Iran and the US to end their conflict and reopen the Strait of Hormuz. This development brings relief to global oil shipments, though analysts advise caution regarding the timeline for full normalization.

Oil prices fell sharply as traders bet that a possible U.S.-Iran agreement could reopen the Strait of Hormuz and ease global supply fears.

Oil prices dropped significantly after the US and Iran announced a peace deal to reopen the vital Strait of Hormuz shipping lane. Read more at straitstimes.com. Read more at…

Oil prices dropped significantly as President Trump and Iran's deputy foreign minister announced an initial deal to end the war and reopen the Strait of Hormuz. The agreement,…

Interim accord to ease supply crunch that has gripped energy markets since February

The US and Iran have agreed on an interim deal to end the war, removing a major overhang for markets and sending oil prices lower