Oil Slumps as US-Iran Deal May Allow Strait of Hormuz to Reopen


Brent fell about 4% to below $84 a barrel, after closing last week at the lowest in more than three months, while West Texas Intermediate was near $81. President Donald Trump said in social-media posts he was authorizing the “toll free opening” of Hormuz, as well as ending a blockade of the Islamic Republic, with the strait to reopen when the deal is signed on Friday.



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