Oil prices plummeted Tuesday after President Donald Trump agreed to a two-week ceasefire with Iran..
- Oil prices plummeted Tuesday after President Donald Trump agreed to a two-week ceasefire with Iran, spurring hopes that more oil tankers would be able to transit the key Strait of Hormuz soon
- But analysts warned that questions remained, including what will change for the effective blockade of the strait, through which about 20% of the world’s oil passes, and whether the ceasefire will lead to a long-term end to the war
- US crude futures declined more than 15% after hours to less than $95 a barrel - a significant drop, but still well above the $67
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