Oil prices fluctuate as Trump's Iran deal could fully reopen Strait of Hormuz

Oil prices are experiencing volatility as markets anticipate the announcement of a U.S.-Iran deal expected this Friday. Brent Crude has surged above $80 per barrel, reflecting cautious optimism that the deal could fully reopen the Strait of Hormuz, a critical global oil shipping route. This development is crucial as it could stabilize oil supply, significantly impacting global energy markets and economies reliant on oil imports. The fluctuations underscore the delicate balance of geopolitical factors and economic interests in shaping energy prices.