Oil prices plunge on US-Iran ceasefire deal to reopen Strait of Hormuz

Global oil prices have fallen sharply, and stock markets have jumped after the US and Iran agreed to a conditional two-week ceasefire deal that includes the reopening of the key Strait of Hormuz waterway. The price of benchmark Brent crude fell by about 13 per cent to about Ksh12,320 a barrel, while US-traded oil was […]

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