Oil Prices Plunge as Iran Declares Strait of Hormuz Open During Ceasefire
Oil prices fell sharply after Iran announced the Strait of Hormuz is fully open for commercial shipping for the duration of the ceasefire. BBC World News reports Brent crude sank 10% on the news, while BBC Business notes that UK petrol and diesel prices are now falling after weeks of rises driven by the US-Israeli war with Iran pushing up wholesale costs.
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