Crude Oil Nosedives As U.S., Iran Agree To Sign Preliminary Deal On Friday
After ending last Friday with two consecutive sessions of losses, on Monday crude oil prices have gone for a tailspin after the U.S. and Iran announced reaching an agreement to discuss ways to end their mutual conflict. The framework allows immediate resumption of free flow of oil and energy trade via the Strait of Hormuz.
WTI Crude Oil for July month delivery was last seen trading down by $4.31 (or 5.08%) at $80.57 per barrel.
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