Yonhap Infomax NewsOil prices crashed over 16% to two-week lows as US-Iran surprise ceasefire deal raised hopes for Strait of Hormuz reopening, though market concerns persist amid renewed Middle East tensions and Israeli-Lebanon conflict escalation threatening fragile peace negotiations.
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[New York Oil Price]Oil Plunges 16% on Surprise US-Iran Two-Week Ceasefire Deal
Oil prices crashed over 16% to two-week lows as US-Iran surprise ceasefire deal raised hopes for Strait of Hormuz reopening, though market concerns persist amid renewed Middle East tensions and Israeli-Lebanon conflict escalation threatening fragile peace negotiations.