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A trio of traders work on the floor of the New York Stock Exchange, 3 June 2026

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Video. Oil drops to $80 a barrel and markets rise as Trump touts Iran deal

Updated: 15/06/2026 - 16:20 GMT+2

Oil prices traded over 5% lower on Monday morning after US President Donald Trump announced the completion of the framework for a peace deal with Iran and the reopening of the Strait of Hormuz.

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