Global oil prices fell sharply on Tuesday, hitting a three-month low after optimism grew over the reopening of the Strait of Hormuz following a peace deal between the United States and Iran.
Again, Iran Closes Strait of Hormuz After U.S. Renewed Strikes
Iran has declared the complete closure of the Strait of Hormuz, warning that any vessel attempting passage will be targeted, following fresh U.S. military strikes.
The announcement came from Iran’s Khatam al-Anbiya military command, which said...
Oil Prices Decline as Middle East Tensions Ease
Oil prices fell by about $3 on Thursday as investors bet on a possible easing of tensions in the Middle East following hopes of a wider ceasefire deal that could eventually lead to the reopening of the...
Oil Prices Fall as US-Iran Ceasefire Talks Advance
Fresh diplomatic moves between the United States and Iran triggered a further decline in global oil prices on Thursday, raising hopes of a possible reduction in petrol prices in Nigeria.
Brent crude fell to $93 per barrel on...
The Strait of Hormuz is a narrow, crescent-shaped strip of water separating the arid cliffs of Oman and the United Arab Emirates from the mountainous coast of Iran.
