(CNA, New York, June 16 - International News) Following recent announcements by the United States and Iran regarding a potential agreement to resume operations through the Strait of Hormuz, market expectations for restored crude oil supply have surged, causing international oil prices to close down more than 5% today.

The July delivery contract for West Texas Intermediate (WTI) crude oil on the New York Mercantile Exchange plummeted 5.8%, closing at $76.05 per barrel.

The August delivery contract for Brent crude oil in London fell sharply by 5.1%, ending at $78.96 per barrel. (Translation: Hung Chi-yuan) 1150617

Stand with the truth. Your support empowers press freedom.

Download the CNA 'Breaking News' app to stay updated instantly.

Text, images, and videos on this website may not be reproduced, broadcast, or transmitted without authorization.

FACT BOX

  • Source: CNA (Central News Agency)
  • Category: Taiwan