SMH · general
Oil prices drop over 15 percent as ceasefire eases tensions
1 hour ago
Oil prices dropped over 15 percent after US President Donald Trump announced a two-week ceasefire and Iran agreed to reopen the Strait of Hormuz. West Texas crude fell from $108 to about $96 a barrel, promising potential relief for motorists. The Australian dollar also rose to US70.6 cents as markets reacted to the new developments.
Summary by Glance · Original reporting by SMH
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