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@kahawatungu Tue, 07 Apr 2026 22:02:55

Oil plunges after US-Iran ceasefire deal to reopen Strait of Hormuz

Global oil prices have fallen sharply and stock markets have jumped after the US and Iran agreed a conditional two-week ceasefire deal that includes the reopening of the key Strait of Hormuz waterway. The price of benchmark Brent crude fell by about 15.9% to $92.30 (£68.87) a barrel, while US-traded oil was almost 16.5% lower [...] The post Oil plunges after US-Iran ceasefire deal to reopen Strait of Hormuz appeared first on Kahawatungu.

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