Oil plunges, Dow sees its best day in a year after US-Iran ceasefire, but ‘hurdles remain’
By Hanna Ziady, John Towfighi, CNN (CNN) — Oil prices plummeted and stocks surged Wednesday after a fragile ceasefire between the United States and Iran took effect, spurring hopes that oil tankers would be allowed to pass through the Strait of Hormuz. WTI, the US crude benchmark, tumbled 16.41% to settle at $94.41 per barrel.
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