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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…

(Bloomberg) -- Stocks rallied, oil slumped and the dollar fell after the US and Iran said they had reached a deal to reopen the Strait of Hormuz.

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