US-Iran War: Oil Slumps Below $100 as Iran Agrees to Open Hormuz in Ceasefire
Global oil prices have slumped below $100 per barrel after Iran agreed to open the Strait of Hormuz as part of a ceasefire framework in the ongoing US-Iran war. The move eased fears of supply disruption through the key maritime chokepoint that carries nearly 20% of the world’s oil shipments, triggering a sharp market reaction.
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