Oil drops below $80 on US-Iran deal.
Global oil prices fell below $80 per barrel on Tuesday following renewed optimism over the planned reopening of the Strait of Hormuz, easing concerns about disruptions to global energy supplies. Brent crude, the international oil benchmark, declined by 4.0 per cent to $79.87 per barrel, falling below the $80 mark for the first time since early March before recovering slightly. Meanwhile, the U.S. benchmark, West Texas Intermediate (WTI), dropped 4.7 […]