Reports of US-Iran ceasefire deal, sinks Oil – RIA Novosti
The Russian agency RIA Novosti reported that Washington and Tehran agreed to a ceasefire, citing sources in Iran and Pakistan.
The agreement includes free navigation in the Strait of Hormuz, and it is expected to be announced in the coming days. Besides the reopening of Hormuz, the deal includes renewed negotiations under the Islamabad Memorandum of Understanding (MoU)
Market’s reaction
Oil prices extended its losses, with both the international crude benchmark, Brent, diving close to 5.50%, while West Texas Intermediate (WTI), the US crude Oil benchmark, diving more than 5%.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
NEUROCRINE BIOSCIENCES, INC. <NBIX.O>: RBC CUTS TARGET PRICE TO $187 FROM $198
--NVent Electric Keeps Quarterly Dividend at $0.21 a Share, Payable Nov. 6 to Shareholders of Record on Oct. 23
Innsuites Hospitality Trust Insider Sold Shares Worth $361,497,600, According to a Recent SEC Filing
NASDAQ TRADE HALT CONTINUES <UZX.O> REASON NOT AVAILABLE AT 03:58 AM
Crypto prices
More
