BBC News·3 min read·medium
Oil prices fall on hopes Strait of Hormuz could reopen
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✦AI Summary
Oil prices have dropped to a three-week low following reports that the US and Iran are nearing a deal to reopen the Strait of Hormuz. Officials suggest that a resolution could normalize shipping routes, easing concerns over global supply disruptions.
Image source, Getty Images By Michael Race Business reporter , Reporting from New York Published 17 minutes ago Oil prices fell to a three-week low on Tuesday as senior US officials raised hopes of a deal with Iran to reopen the key Strait of Hormuz waterway.
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