Following the reopening of the Strait of Hormuz, oil prices fell by 10%.
Following the reopening of the Strait of Hormuz, oil prices fell by 10%.
2026-04-17
Shafaq News – Follow-up
Oil prices fell by 10% in global markets on Friday afternoon after Iran announced it was reopening the Strait of Hormuz to commercial and other vessels.
Agence France-Presse reported that the price of a barrel of Brent North Sea crude for June delivery fell by 10.42% to $89.03 at approximately 13:10 GMT.
Meanwhile, the price of a barrel of West Texas Intermediate crude oil for May delivery fell by 11.11% to $84.17.
Oil prices fell after Iran announced it would fully reopen the Strait of Hormuz for the remainder of the ceasefire with the United States.
shafaq.com
