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Oil drops below $80 on US-Iran deal
Oil prices dropped below $80 a barrel Tuesday on optimism over the promised reopening of the Strait of Hormuz, easing inflation pressures on global economies even though traders are eyeing the risk of Iranian "service fees" on ships transiting the strait.Oil hit a three-month low as Brent North Sea crude, the international benchmark, dropped 4.0 percent to $79.87 a barrel, dipping below $80 for the first time since early March, before edging back up to $80.52.
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theguardian.com
Oil prices tumble amid hopes strait of Hormuz will soon reopen
US-Iran peace deal sparks immediate drop for Brent crude but analysts warn complex negotiations lie ahead, potentially halting further significant drops
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hindustantimes.com
Crude oil price today: Oil rates slip as US-Iran deal raises hopes for Strait of Hormuz's reopening
Brent crude fell nearly 5% to around $83 a barrel after ending last week at a three-month low, while West Texas Intermediate traded near $80. | World News
