Crude Oil Prices Drop After Strait of Hormuz Reopens
Crude oil and gasoline prices fell sharply on Friday as the Strait of Hormuz reopened, easing fears of a prolonged supply disruption. The reopening, along with a potential peace deal and a ceasefire between Israel and Lebanon, contributed to the decline. The US is also considering releasing frozen Iranian assets in exchange for Iran's enriched uranium stockpile.
Topics: Crude Oil Prices Energy Markets Geopolitical Events Strait of Hormuz