International Oil Prices Fall Below $80 per Barrel, Lowest in 3 Months

International oil prices hit a three-month low today, driven by optimistic market sentiment over the reopening of the Strait of Hormuz after the United States and Iran reached a peace agreement.

According to AFP, international benchmark Brent Crude plunged 4.0%, closing at $79.87 per barrel—the first time below $80 since early March.

U.S. benchmark West Texas Intermediate (WTI) crude fell 4.5% to $77.16 per barrel.

President Donald Trump stated that the Strait of Hormuz would be 'fully open' following the peace agreement signed between Washington and Iran on the 19th in Switzerland.

(Compiled by Yang Chao-Yen) 1150616