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The Nexus
SECURITYMay 27 · 13:38 UTCNY POSTAnthony Blair

Oil plunges to $89 per barrel after Iran reports that peace deal would reopen Strait of Hormuz in 1 month

Oil prices dropped to $89 per barrel as reports indicated a proposed Iran-US peace deal could reopen the Strait of Hormuz within one month, reducing geopolitical tensions. The development eased concerns over potential disruptions in oil shipments through the strategic waterway.

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Mentioned
IranorganizationUnited StatesorganizationStrait of HormuzplaceOil pricestopicPeace dealtopic$89 per barreltopic1 monthtopic
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