๐ข๐ถ๐น ๐ฃ๐ฟ๐ถ๐ฐ๐ฒ๐ ๐๐ฎ๐น๐น ๐๐ฒ๐น๐ผ๐ $๐ต๐ฌ ๐๐ณ๐๐ฒ๐ฟ ๐ง๐ฟ๐๐บ๐ฝ ๐๐ป๐ป๐ผ๐๐ป๐ฐ๐ฒ๐ ๐๐ฟ๐ฎ๐ป ๐ช๐ฎ๐ฟ ๐๐ป๐ฑ
Oil prices dropped below $90 per barrel on Friday. The fall came after US President Donald Trump announced a framework agreement with Iran.
Key price data at 7 am IST:
- Brent Crude: $89.45 (down $0.93 or 1.03%)
- West Texas Intermediate: $86.73 (down $0.98 or 1.12%)
Trump spoke during a tele-rally in Georgia. He said Washington had reached a framework agreement with Iran. He said the war had ended today. He expects both sides to sign an agreement in the coming days. He also said the Strait of Hormuz would reopen once officials finalize the deal.
Trump called off planned military strikes on Thursday. He said talks with Iran had moved forward. Earlier in the week, he had threatened to hit Iran hard.
Iran's semi-official Fars news agency offered a different view. It reported Tehran had not approved the text of any agreement.
Tensions rose earlier this week. On Wednesday, Iran announced the closure of the Strait of Hormuz. It warned vessels would come under fire. The strait carries about one-fifth of global oil and liquefied natural gas shipments. The months-long blockade had kept oil prices high.
The US military said commercial ships continued to use the waterway.
The conflict began on February 28. Joint US and Israeli strikes on Iran started the hostilities. Oil prices had stayed above $100 per barrel during the crisis. Prices stood at $70 per barrel before the conflict began.