Oil prices decreased on Thursday following reports that the United States and Iran had reached a tentative agreement to extend their ceasefire and reopen the Strait of Hormuz. As of Thursday afternoon, international benchmark Brent crude was trading at approximately $94 per barrel, down from around $96 per barrel prior to the reports. Meanwhile, U.S. benchmark West Texas Intermediate crude was priced at about $89 per barrel.
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Oil Prices Decrease Following Reports of US-Iran Ceasefire Deal
On Thursday, oil prices fell as reports indicated a tentative deal between the U.S. and Iran to extend their ceasefire and reopen the Strait of Hormuz. Brent crude was trading at approximately $94 per barrel, while West Texas Intermediate crude was around $89 per barrel.
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Original Headline
Oil prices dip amid reports of tentative US-Iran deal
Neutral Headline
Oil Prices Decrease Following Reports of US-Iran Ceasefire Deal