Oil prices plunge amid reported progress in US, Iran talks

Source: The Hill News · Bias: Center

Summary

Oil prices plunged around midday Wednesday as reports emerged that the U.S. and Iran are nearing an agreement on a one-page memorandum that could result in the reopening of the Strait of Hormuz.  The international benchmark, Brent crude oil, reached $101.75 at 11 a.m. EDT while West Texas Intermediate hit $95.60, according to Reuters.  Stock…

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Oil prices plunge amid reported progress in US, Iran talks
The Hill News

Oil prices plunge amid reported progress in US, Iran talks

Center

Oil prices plunged around midday Wednesday as reports emerged that the U.S. and Iran are nearing an agreement on a one-page memorandum that could result in the reopening of the Strait of Hormuz.  The international benchmark, Brent crude oil, reached $101.75 at 11 a.m. EDT while West Texas Intermediate hit $95.60, according to Reuters.  Stock…