Brent drops over 10% after Iran declares the Strait of Hormuz ‘completely open’
Oil tumbled the most in weeks on Friday afternoon after Iran declared the Strait of Hormuz “completely open” to commercial shipping, easing fears of a prolonged supply shock that had driven prices toward triple digits. Brent, the benchmark of Nigeria’s crude oil, slid more than 10 percent on Friday by 3:46pm Nigerian time, falling to around […] read more Brent drops over 10% after Iran declares the Strait of Hormuz ‘completely open’
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