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WTI Crude Tumbles as Iran-Oman Accord Eases Strait of Hormuz Risks

Dow Jones Newswires Read original source (opens in a new tab)
The Story

News Summary

  • Crude oil prices dropped sharply following a joint framework announced by Iran and Oman to enhance navigation safety in the Strait of Hormuz.
  • The reduced geopolitical supply risk weighed heavily on oil benchmarks and pushed European government bond yields lower.
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WTI price history

102.47 +73.12% over the displayed period

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