The Age
·general
·2 hours ago
Australia’s oil price hits three-month low on US-Iran peace hopes
Australia's oil price has dropped 12 percent this week to $US84 per barrel, marking its lowest point since March. This decline follows prospects of a US-Iran peace deal that could reopen the Strait of Hormuz, crucial for global oil shipments. Experts anticipate that falling local wholesale prices may alleviate the impact of the government's ending fuel discounts.
Summary by OZbrief · The Age
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