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Oil Slumps as US-Iran Reach Initial Peace Deal to Reopen Strait of Hormuz

Jun 15, 2026

Oil prices slipped to a three-month low on Monday after U.S. President Donald Trump and Iran's deputy foreign minister said they had reached an initial deal to end the war and to resume traffic through the Strait of Hormuz.Brent crude futures LCOc1 fell $3…

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