Oil prices slide after Pakistan announces deal between US and Iran
Under the agreement, the key Strait of Hormuz waterway will be reopened, US President Donald Trump said.
Coverage by Political Leaning
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Notable Quotes
"let the oil flow!"
— Donald Trump , Politician
"a lack of detail on what has been agreed was likely to inject unease and uncertainty into the market."
— Vandana Hari , Executive
"global equity markets were firmly on the front foot on Monday."
— Matt Britzman , Executive
"I would say that's going to take a month or 45 days to kind of fully get till you're at a normal pumping balance."
— Mark Montgomery , Academic
"the key Strait of Hormuz waterway will be reopened"
— Donald Trump , Politician
Key People
Andrew Lipow is a consultant at Lipow Oil Associates.
Former president of the United States known for his aggressive economic policies.
Elon Musk is the CEO of SpaceX and Tesla.
Kazem Gharibabadi is Iran's Deputy Foreign Minister.
Mark Montgomery is a retired US Navy rear admiral and senior fellow at the Foundation for the Defence of Democracies.
Matt Britzman is a senior equity analyst at Hargreaves Lansdown.
Vandana Hari is the founder of Vanda Insights, an energy markets analysis firm.
Tags
All Coverage
Under the agreement, the key Strait of Hormuz waterway will be reopened, US President Donald Trump said.
Crude oil prices dropped by over 4% to their lowest in more than three months following a ceasefire extension agreement between the U.S. and Iran, potentially reopening the Strait of Hormuz.
Oil prices fell over 4% after the US and Iran agreed a peace deal, easing supply concerns as markets reacted to reduced tensions in the Strait of Hormuz region.
A tentative agreement to end the Iran war and reopen the Strait of Hormuz led to significant market reactions, with oil prices dropping sharply and stock indices soaring.
Oil prices slipped over 4% after the U.S. and Iran reached a peace deal to reopen the Strait of Hormuz, with Brent crude futures falling to $83.82 per barrel.
Crude oil prices fell more than 4% after the United States and Iran announced they had reached a peace agreement to end the war and reopen the Strait of Hormuz, with Brent crude oil price plunging 3.95% to $83.88 a barrel.
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