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Crude Prices Fall Sharply in Hopes of a Deal to Reopen Hormuz
Source: Nasdaq
Energy Markets & PricesGeopolitics & War
November WTI crude fell $2.20, or 2.33%, on Friday, while November RBOB gasoline dropped 14.55 cents, or 4.37%. The selloff reflected hopes that US-Iran negotiations could produce a deal to reopen the Strait of Hormuz, easing perceived supply-disruption risk in oil markets.
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