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Commodities

Trump's Iran Halt Sends Oil Prices into Free Fall

Guavy AI Editorial Team
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Oil
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Oil prices plummeted at the start of the week after US President Donald Trump announced that he had ordered American forces to halt planned strikes against Iran. The decision was made in light of progress towards a deal to end the ongoing conflict in the Middle East, which has been raging for over five months.

The Strait of Hormuz, a critical chokepoint for global energy supply, connects the Gulf to the Gulf of Oman and is vulnerable to disruptions. Oil prices fell sharply as a result of Trump's announcement, with Brent crude reaching $105 per barrel.

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