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Oil prices fall again as US–Iran interim deal eases tensions and signals reopening of the Strait of Hormuz. Brent drops to $78.66 and WTI to $75.81 amid shifting global market sentiment. Energy markets react quickly to geopolitical developments.
Oil prices fell in early trading after reports that the United States and Iran signed an interim deal aimed at ending the war and reopening the Strait of Hormuz, a key route for global oil shipments. Brent crude futures dropped 89 cents, or 1.12 percent, to $78.66 a barrel, while US West Texas Intermediate fell 98 cents, or 1.28 percent, to $75.81. The decline came as markets responded to easing tensions over possible disruption to one of the world’s most important energy chokepoints.
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