Oil Prices Plunge Below $85 as Iran Reopens Strait of Hormuz in Major Market Relief
- Posted on April 18, 2026
- By International Business Times
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- 1 min read
Oil Prices Plunge Below $85 as Iran Reopens Strait of Hormuz in Major Market Relief
World oil prices tumbled sharply on Friday, with benchmark U.S. crude dropping more than 10 percent to settle below $84 per barrel after Iran declared the Strait of Hormuz fully open to commercial shipping during an ongoing ceasefire, easing fears of prolonged supply disruptions from the Middle
