Oil prices have fallen again, due to the opening of the Strait of Hormuz following negotiations between the US and Iran.
Reuters writes about this.
Brent crude futures fell to $77.70 per barrel, while US WTI fell to $73.74.
The US Treasury Secretary Scott Bessent said yesterday that Iran, following talks in Switzerland, had allowed IAEA experts to enter the country and agreed to open the Strait of Hormuz. In response, the US Treasury Department temporarily (for 60 days) lifted sanctions on the production, supply and sale of Iranian oil.
After that, according to Reuters, two tankers with almost 2 million barrels of oil passed through the Strait of Hormuz. The US President Donald Trump himself reported that the strait was fully open and more oil was being exported through it than ever before.
- Iran and the United States agreed during talks in Switzerland on a roadmap that should lead the parties to a final agreement within 60 days. The parties also agreed to create a political oversight committee for the negotiations, as well as separate working groups on Iranʼs nuclear program, sanctions and disputes.
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