Oil prices rally on Hormuz talks but will Asia’s energy woes ease?

Oil prices dropped sharply due to hopes of the US and Iran reopening the Strait of Hormuz, but analysts suggest Asian economies may not quickly recover from the energy crisis. Benchmark Brent crude oil fell 11.15% to $92.13 per barrel, its steepest weekly drop since early April, though prices later rose to around $93 per barrel.