Oil princes sink to lowest level since March after US-Iran peace deal announcement (opens original article in a new tab)

Oil prices dropped to their lowest levels since March following a US-Iran peace deal aimed at reopening the Strait of Hormuz, though analysts caution about potential future price increases due to production disruptions.

• Oil prices fell sharply after US-Iran peace deal announcement
• Brent crude dropped 5% to $82.91, US crude fell 5.5% to $80.21
• Analysts warn of possible oil price spikes due to production delays