OppHub America Desk · · Source: oilprice-main
Oil Tumbles 3% as Iran Floats Hormuz Reopening Within a Week
Energy & climate policy: Lease, export, , and subsidy shifts move energy equities fast.
Based on reporting from oilprice-main.
Iran has offered to open the Strait of Hormuz within seven days if the United States eases its pressure including taking steps toward ending the U.S. military blockade of Iranian ports and halting military operations in the Strait, a senior Iranian government official told Japan’s news agency Kyodo News on Tuesday.
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Iran has offered to open the Strait of Hormuz within seven days if the United States eases its pressure including taking steps toward ending the U.S. military blockade of Iranian ports and halting military operations in the Strait, a senior Iranian government official told Japan’s news agency Kyodo News on Tuesday. Hopes of a diplomatic breakthrough and Iran’s reported preparedness to reopen the Strait of Hormuz if the U.S. takes steps to ease the pressure sent oil prices tumbling by 3% early on Tuesday. The international benchmark, Brent Crude , slipped below the $100 per barrel mark for the first time in a week, and was trading at $98 a barrel as of publication.
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Based on reporting from oilprice-main.
Informational and educational only — not investment, financial, or legal advice. Disclosure
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