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Middle East

Real-time coverage of developments across the Middle East

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Oil prices plunge over 5% on reports US and Iran reach deal to end Middle East hostilities, reopen Strait of Hormuz. Brent crude falls to $82.94, WTI to $80.32.

Oil prices are losing more than 5%. Oil prices are falling sharply on Monday on information that US and Iranian authorities have reached agreements that will allow the end of hostilities in the Middle East and restore ship traffic through the Strait of Hormuz. The price of August Brent futures on the London ICE Futures exchange as of 14:30 Moscow time is $82.94 per barrel, down $4.39 (5.03%) from the previous close. July WTI crude futures on the New York Mercantile Exchange fell $4.56 (5.37%) to

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