Oil slumps as US and Iran declare Strait of Hormuz open to shipping
Oil prices drop as US and Iran declare Strait of Hormuz open to shipping, with Trump suggesting warring sides are closer to ending a war.
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oil slumped on tuesday after the us and iran both declared the strait of hormuz open to shipping. president trump suggested the warring sides were closer to ending a conflict that has sent shockwaves through markets. the strait is a critical chokepoint for global oil flows, and the de-escalation eased supply fears that had been supporting prices.
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