Oil prices plunge after Iran says Strait of Hormuz open for commercial shipping traffic
Oil prices plummeted more than 10% on Friday after Iran's foreign minister said that the Strait of Hormuz will be open to all commercial shipping traffic for the duration of the ceasefire between Israel and Lebanon.Prices for West Texas Intermediate crude fell over 10% to under $85 a barrel, while Brent crude oil prices dropped more than 10% to around $89 a barrel.The plunge in oil prices comes after Iranian […]