Oil Markets' Tenuous Dance with Diplomacy As a tentative agreement between the US and Iran unfolds, oil markets are left wondering about its implications.
The Strait of Hormuz, a critical waterway connecting the Persian Gulf to global trade routes, has been a focal point in this crisis. Oil prices have plummeted by as much as 4.
2% at the week's opening, responding to the uncertainty surrounding the US blockade on Iran. The US stance remains unchanged despite rumors of a potential deal.