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Oil prices slide after Pakistan announces deal between US and Iran
Key takeaways
- Brent crude, the global oil benchmark, was 3.8% lower at $84.02 (£62.48) a barrel, while US-traded oil was down 4.1% at $81.40.
- Pakistan's prime minister Shehbaz Sharif said an official signing ceremony would be on Friday, 19 June in Switzerland.
- Trump later posted on social media “oil will flow”.
Why this matters: a developing story that could shape the day's news cycle.
Peter Hoskins Business reporter EPA/Shutterstock Oil prices fell in early trade in Asia after Pakistan, which has been mediating an end to the US-Iran war, announced a deal that President Donald Trump said would see the reopening of the key Strait of Hormuz shipping route.
Brent crude, the global oil benchmark, was 3.8% lower at $84.02 (£62.48) a barrel, while US-traded oil was down 4.1% at $81.40.
Pakistan's prime minister Shehbaz Sharif said an official signing ceremony would be on Friday, 19 June in Switzerland.
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