# StraitOfHormuzReopensOilPlunges

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On June 14, the US and Iran reached a peace deal, paving the way for the reopening of the Strait of Hormuz. Oil prices tumbled over 4%, with WTI crude falling to around $81 and Brent crude dropping below $84, hitting three-month lows. About 20% of global oil shipments will resume flowing freely, easing inflation expectations.

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