Iran Says Drafting Hormuz Peace Agreement with Oman, Oil Price Slides, US Stocks Rally

BlockBeats News, April 2nd, according to the Islamic Republic News Agency (IRNA) report, Gharibabadi, Iran's Deputy Foreign Minister, stated that Iran has said it is drafting a transit agreement for the Strait of Hormuz with Oman.

Impacted by this news, according to Bitget data, oil prices fell, with WTI crude oil falling below $107 per barrel at one point, and Brent crude oil dropping to a low of $103.5 per barrel. Spot gold once rose above $4700 per ounce. The three major U.S. stock indexes made a full reversal, with the Nasdaq recovering from a previous 2% decline.