Oil Prices Drop Following US-Iran Agreement
RARaajje MV – a month ago
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Global oil prices have fallen this morning following Pakistan's announcement of a peace agreement to end the conflict between the US and Iran. US President Donald Trump stated that the Strait of Hormuz, crucial for oil transport, will be reopened under this agreement. Brent crude prices dropped by 3.8% to $84.02 per barrel, while US oil prices fell by 4.1% to $81.40 per barrel. The official signing ceremony for this agreement is scheduled for Friday, June 19th, in Switzerland.