Oil Slumps as US-Iran Deal May Allow Strait of Hormuz to Reopen (opens original article in a new tab)

Oil prices dropped as US-Iran peace deal potentially allows Strait of Hormuz to reopen, with Brent crude falling over 3% and Trump announcing the toll-free opening of Hormuz.

• Oil prices fell after US-Iran peace deal agreed to reopen Strait of Hormuz
• Brent crude dropped over 3% to $84 a barrel, WTI near $81
• US President Trump announced toll-free opening of Hormuz and ending blockade of Iran