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Oil prices plunge on argues Strait of Hormuz is open
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Key facts
- The global benchmark Brent crude is down to $88.90 per barrel, the lowest in over a month
- IRAN HAS ANNOUNCED THAT THE STRAIT OF IRAN IS FULLY OPEN AND READY FOR FULL PASSAGE
- Oil prices dropped over 10% Friday after President Trump and Iran's foreign minister claimed the Strait of Hormuz — the world's most critical energy shipping lane — is open for transit
- He said this would occur "on the coordinated route as already announced by Ports and Maritime Organisation of the Islamic Rep. of Iran
Summary
Oil prices dropped over 10% Friday after President Trump and Iran's foreign minister claimed the Strait of Hormuz — the world's most critical energy shipping lane — is open for transit. He said this would occur "on the coordinated route as already announced by Ports and Maritime Organisation of the Islamic Rep. of Iran. The global benchmark Brent crude is down to $88.90 per barrel, the lowest in over a month.