Oil price drops by 9% after Iran says Strait of Hormuz is ‘completely open’ during ceasefire
Strait of Hormuz By Joe Udo Oil prices dropped sharply on Friday, April 17, after the Iranian foreign minister announced that the Strait of Hormuz would be “completely open” for commercial transit for the duration of the current ceasefire. Brent crude, the global benchmark, fell 9.5% to just below $90 per barrel, while WTI, the…
