U.S.-Iran Agreement "Reached," but U.S. Crude Oil Inventories Are Already Approaching the Red Line and It Will Take Months to Replenish
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The US-Iran agreement paves the way for reopening the Strait of Hormuz, but whether this can promptly curb the accelerated depletion of global oil inventories will determine the direction of energy prices in the coming weeks.
According to a Wallstreetcn article, both the US and Iran announced a ceasefire memorandum