- Oil prices fell to their lowest since before the Iran war after a U.S.–Iran interim deal to reopen the Strait of Hormuz and ease sanctions, with Brent around $77.7 and WTI about $74.9 a barrel.
- Reopening the strait removes a major supply “risk premium,” but experts warn full normalization will take weeks to months, so oil won’t plunge immediately.
- The deal could ease pressure on fuel prices and markets, though analysts still see roughly a $75-per-barrel floor and factors like demand (e.g., slower Chinese consumption) will matter.
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