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Crude Oil Plunges 6% on Prospects of U.S.-Iran Peace Agreement and Hormuz Reopening

Blocknomi Published 06.05.2026 09:39

TLDR Brent crude declined 6.2% to $103.04 while WTI slid 6.6% to $95.55 following diplomatic breakthrough news Washington and Tehran are reportedly finalizing a brief memorandum to halt current hostilities…

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