Updated 17 April 2026 at 09:41 pmCoinCex editorial review
Oil Prices Collapse After Iran Reopens Strait of Hormuz
#Markets and Prices Iran OIL United States US
Iran's Foreign Minister Abbas Araghchi confirmed the Strait of Hormuz is now 'completely open' as part of a ceasefire agreement. WTI and Brent crude futures dropped sharply, each falling more than 10% and slipping below the $90 mark.
The announcement was made by Iranβs Foreign Minister Abbas Araghchi, who specified that as part of the ceasefire, the Strait of Hormuz was βcompletely open.β Oil futures plummeted, with the WTI and Brent benchmarks falling over 10%, reaching below $90. Key Takeaways: Iran reopened the Strait of Hormuz, crashing Brent futures 10% to $87.19 and [β¦]
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