Oil prices drop further below 80 dollars a barrel as US-Iran peace deal signed (opens original article in a new tab)

Oil prices dropped below 80 dollars a barrel following a US-Iran peace deal that aims to reopen the Strait of Hormuz, with Brent crude falling to 77.9 dollars a barrel and stock markets declining as oil prices fell.

• Oil prices fell below 80 dollars a barrel after US-Iran peace deal
• Brent crude dropped to 77.9 dollars a barrel
• Stock markets declined as oil prices fell
• US-Iran deal includes Strait of Hormuz reopening and sanctions relief
• US Federal Reserve chairman's comments raised rate hike concerns