Tag Archives: reopens

Global Oil Prices Plunge as Iran Reopens Critical Strait of Hormuz Following Diplomatic Breakthrough and De-escalation of Regional Tensions

April 18, 2026 0

Jakarta – Global crude oil prices experienced a significant downturn, plummeting by over 9% after Iran announced the reopening of the strategically vital Strait of Hormuz. This development followed earlier affirmations from United States President Donald Trump, who indicated that Iran had agreed to refrain from closing the crucial maritime passage. The move swiftly reduced the extreme risk premium that …

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