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EIA

A drone view shows the Malta-flagged tanker Agios Fanourios I, an oil tanker that sailed through the Strait of Hormuz, arriving in Iraq’s territorial waters off Basra, Iraq, April 17, 2026. REUTERS/Mohammed Aty
May 6, 2026

Oil slides after Pakistani source says US and Iran are close to framework peace deal

Oil prices dropped sharply after a Pakistani source said the US and Iran are close to an initial peace deal, easing tensions in the Strait of Hormuz.

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