WORLDApr 17 · 13:50 UTCAXIOSBen Geman

Oil prices plunge on claims Strait of Hormuz is open

Oil prices fell over 10% as President Trump and Iran's foreign minister announced the Strait of Hormuz is open, easing concerns over disrupted oil shipments. The move follows progress in ceasefire negotiations, with Brent crude dropping to $88.90 and WTI to $83.35.

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Mentioned

Donald TrumppersonAbbas AraghchipersonStrait of HormuzplaceIslamic Republic of IranorganizationPorts and Maritime Organisation of the Islamic Rep. of IranorganizationBrent crudetopicWest Texas Intermediate (WTI)topicceasefire in Lebanontopic

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