Oil Falls Below $80 For First Time in More Than Three Months
Brent oil fell below $80 a barrel for the first time in more than three months as the US-Iran deal to reopen the Strait of Hormuz boosted expectations for a revival in supply, with leading Wall Street banks reducing their price forecasts and regional benchmarks collapsing.
Gasoline prices are also falling.
Bloomberg Mike McGlone joins to discuss. (Source: Bloomberg)
Oil Prices Tumble on Hormuz Reopening Hopes
- Global oil prices break below $80 for the first time since the Iran war began. Ships still aren’t passing through Hormuz. MarketWatch —
- Oil drops below $80 on US-Iran deal Vanguard News —
- Oil prices fall back to US$80 per barrel amid optimism over Mideast peace deal Global News —
- Oil Prices Might Not Go Back to Normal Anytime Soon The Atlantic —
- Oil Falls Below $80 For First Time in More Than Three Months 📹 Bloomberg — · 3min