Image: CNNLive updates: Global oil prices fall to lowest level since before the US-Iran war
• Global benchmark oil prices have dropped below $76 a barrel, reaching their lowest level since before the onset of the US-Iran war. • The price decline follows a memorandum of understanding signed last week between the US and Iran to halt fighting and reopen the Strait of Hormuz. • This agreement is significant as it offers economic relief to Iran in exchange for a pledge to never develop nuclear weapons.
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