US Treasury Secretary Bessent says Hormuz deal nears as Oil prices tumble
US Treasury Secretary Scott Bessent said in a CNBC interview on Tuesday that a deal with Iran to reopen the Strait of Hormuz could be reached as soon as Tuesday or Wednesday. He added that he expects Energy prices to "settle back down".
Markets reacted swiftly to the comments. West Texas Intermediate (WTI) Oil fell 3.29% on the day to trade around $76.20 per barrel at the time of press, after hitting a more than three-week low of $75.68.
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