Iran Offers to Reopen Strait of Hormuz in 7 Days as Brent Falls 2.47%
Updated
Updated · The Globe and Mail · Sep 22
Iran Offers to Reopen Strait of Hormuz in 7 Days as Brent Falls 2.47%
3 articles · Updated · The Globe and Mail · Sep 22
Summary
Brent crude slid 2.47% to $97.86 a barrel and WTI fell 3.11% to $89.50 after reports Iran could reopen the Strait of Hormuz within seven days.
Iran tied the offer to initial U.S. steps to ease military pressure, calming fears of disruption on one of the world's most important oil shipping routes.
Capital Economics said the signal suggested diplomacy may be gaining traction, though issues including tolls and fees could still block a durable agreement.
Lower oil prices helped broader risk sentiment, with European shares rising and Wall Street futures edging higher after a tech-led rally driven by renewed AI optimism.
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