Oil falls as Iran signals possible hormuz reopening Iran could reopen the Strait of Hormuz within seven days if the U.S. eases military pressure and lifts its port blockade, according to multiple reports citing a senior Iranian official. Oil prices subsequently fell with WTI crude more than 2.5% lower at $89 a barrel, roughly 15% below its September high. Brent crude dropped below $98 a barrel. A sustained de-escalation in the Middle East could provide a tailwind for risk assets, with lower ene…
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