- Oil drops below $80 on US-Iran deal Vanguard News —
- Oil Falls Below $80 For First Time in More Than Three Months Bloomberg —
- Global oil prices break below $80 for the first time since the Iran war began. Ships still aren’t passing through Hormuz. MarketWatch —
- Oil Falls Below $80 For First Time in More Than Three Months 📹 Bloomberg — · 3min
- Oil Prices Might Not Go Back to Normal Anytime Soon The Atlantic —
- Oil prices fall back to US$80 per barrel amid optimism over Mideast peace deal Global News —
- Filling up your car won’t feel normal until next summer, S&P says Fortune —
- Oil prices fall to three-month low ahead of US-Iran agreement Middle East Eye —
- Ships beginning to trickle through Strait of Hormuz — here’s how long it will take to return to normal NY Post —
- ASX eyes flat start, oil prices fall; Pizza Hut sold in $3.8b deal Sydney Morning Herald —
- Oil drops below $80 on US-Iran deal Punch —
- Deal or no deal, oil prices will stay high for months The Economist —
Oil Prices Tumble on Hormuz Reopening Hopes
Brent crude oil fell below $80 a barrel for the first time since early March as markets reacted to the US-Iran deal and the expected reopening of the Strait of Hormuz.
Leading Wall Street banks reduced their price forecasts and regional benchmarks collapsed.
However, shipping companies remain cautious, warning that uncleared sea mines and Iran's plan to impose maritime service fees could delay a full return to normal operations.
Experts warned it could take more than two months for traffic to return to pre-war levels.
Classification of sweet light crude oil that serves as a major benchmark price for purchases of oil worldwide
Strait of Hormuz
Strait between the Gulf of Oman and the Persian Gulf
Strait between the Gulf of Oman and the Persian Gulf
Iran
Country in Western Asia
Country in Western Asia
United States
Country located primarily in North America
Country located primarily in North America