Oil prices drop after Iran reopens Strait of Hormuz

Global oil prices dropped sharply on Friday after Iran signalled that the Strait of Hormuz would remain open to commercial shipping during a temporary ceasefire in the Middle East. Benchmark crude prices fell by more than 10 per cent, with West Texas Intermediate (WTI) slipping below $85 per barrel, while Brent crude declined to about […] Oil prices drop after Iran reopens Strait of Hormuz

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