InternationalNewsAPI
Oil prices plunge as Iran says Strait of Hormuz 'open' during ceasefire - BBC
Overview
Brent crude fell after Iran said the Strait of Hormuz would be open for the duration of the short ceasefire, easing immediate shipping fears. Those easing concerns were reinforced when flows through the Strait increased as reports of progress on a US-Iran peace deal emerged, helping erase wartime price gains. Traders remain cautious because the ceasefire and any deal are temporary and full, verifiable reopening is not guaranteed.
Entities
ORGBBCORGCapital EconomicsLOCIranLOCStrait of HormuzKieran Tompkins
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