Oil prices plunged around midday on Wednesday as reports emerged that the U.S. and Iran are nearing an agreement on a one-page memorandum that could result in the reopening of the Strait of Hormuz. The international benchmark, Brent crude oil, reached $101.75 at 11:00 a.m. EDT while West Texas Intermediate hit $95.60, according to Reuters. …
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Oil prices plunge amid reported progress in US, Iran talks
