Oil prices sink to lowest levels in months after Trump touts Iran deal to reopen Strait of Hormuz

Crude oil prices have plummeted to their lowest levels in several months, reaching a low not seen since March. This decline follows an announcement from President Trump and U.S. officials regarding a successful agreement with Iran. The deal specifically focuses on the reopening of the Strait of Hormuz, leading to the immediate drop in market prices. The news of the diplomatic resolution between the United States and Iran has directly impacted global oil valuations on Monday.