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The Nexus
BUSINESSJun 15 · 16:00 UTCAL-MONITOR

Oil plunges, stocks jump on US-Iran peace deal

Oil prices dropped to $80 a barrel and stocks rose as the US and Iran reached a framework deal to end the Middle East war and reopen the Strait of Hormuz. The strait, normally handling 20% of the world's crude oil supply, was closed by Tehran after US and Israeli strikes in late February, causing energy prices to rise.

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United StatesorganizationIranorganizationIsraelorganizationStrait of HormuzplaceMiddle East wartopic
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