Oil prices slide on US-Iran ceasefire, but fuel prices will stay high for weeks
ABC News
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Iran's promise to reopen the Strait of Hormuz after striking a temporary agreement with the US saw the cost of oil fall sharply.
But how quickly are we likely to see relief at the bowser in Australia?
Analysts say it could be weeks or months.
Oil prices plunge on ceasefire
- Oil plunges below $95 as the Dow surges 1,300 in a worldwide rally following a ceasefire with Iran Scripps News —
- Oil prices rise again and Asian stocks retreat AP News —
- The oil market navigates a shaky ceasefire Financial Times —
- The Long-Term Economic Damage From the Iran War Bloomberg —
- Oil Rises After Biggest Drop Since 2020 as Hormuz Stays Blocked Bloomberg —