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Oil Slides Toward $85 as Draft US-Iran Peace Deal Promises to Reopen the Strait of Hormuz
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Oil Slides Toward $85 as Draft US-Iran Peace Deal Promises to Reopen the Strait of Hormuz

Crude oil fell nearly 4% Friday after Iranian state media published a draft 14-point peace agreement that would reopen the Strait of Hormuz within 30 days, with WTI sliding to $85.26 and global equities rallying on the de-escalation.

Jun 12, 2026
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