Oil sinks on Mideast deal, but Fed outlook knocks equities

Oil prices dropped further Thursday after US President Donald Trump and his Iranian counterpart signed off on a deal to end four months of war and reopen the Strait of Hormuz to tanker and cargo traffic.Optimism that operations will in due course return to pre-war levels in the strait, a global energy chokepoint, helped lift market sentiment with Wall Street some two hours into trading.

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