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Oil and gas prices fall nearly 10% after Iran says strait of Hormuz is open

Apr 16, 2026Center Left

Brent crude drops and gas prices slide amid hopes Donald Trump will succeed in reaching deal with TehranOil and gas prices tumbled by almost 10% on Friday after Iran said the strait of Hormuz would open to commercial shipping, potentially clearing the way for tankers holding millions of barrels of oil and gas to reach the global market.Iran’s foreign…

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