Oil prices decline 10% after Iran announced the opening of the Strait of Hormuz

Oiltoday, after Iran announced that it would reopen The Strait of Hormuzfor the entire remainder of the ceasefire period with the United States.

The price of a barrel of Brent North Sea crude for June delivery fell by 10.42%, reaching $89.03.

As for the price of a barrel of US West Texas Intermediate crude for May delivery, it fell by 11.11%, reaching $84.17.

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