Crude Oil Prices Decline Despite Trump's Accusation of Iran Breaching Ceasefire

Deep News06-27

Former US President Donald Trump stated on Friday that Iran had launched attack drones at vessels transiting the Strait of Hormuz, an action he claimed violated a ceasefire agreement between the US and Iran.

Trump posted on his social media platform, stating that the Islamic Republic of Iran had launched at least four one-way attack drones at multiple ships passing through the Strait of Hormuz, with one accurately striking the upper deck of a large, high-value cargo vessel.

He added that this was a reckless act and a clear violation of the ceasefire agreement between the parties.

International crude oil prices closed lower on the day. The August West Texas Intermediate (WTI) futures contract was down 4.1%, while Brent crude futures fell by 4.5%.

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