en.Wedoany.com Reported - As the United States and Iran confirmed an agreement and the Strait of Hormuz is expected to reopen soon, international crude oil futures saw a notable price decline at the start of the new trading week on the 14th.

As of 6:15 p.m. Eastern Time on the 14th, the price of light crude oil futures for July delivery on the New York Mercantile Exchange fell to a low of $80.25 per barrel, a drop of 5.45%; London Brent crude oil futures for August delivery once fell to $83.51 per barrel, a decline of 4.37%.

Pakistani Prime Minister Shehbaz Sharif posted on social media on the 15th local time that the United States and Iran had reached a peace agreement. Subsequently, the U.S. and Iranian sides confirmed the news.

U.S. President Donald Trump posted on social media on the 14th, stating that the U.S.-Iran agreement is "now complete." With the signing of the U.S.-Iran agreement on the 19th, the Strait of Hormuz will reopen for mine clearance operations.

Iran's Supreme National Security Council issued a statement in the early hours of the 15th local time, formally confirming the conclusion of a memorandum of understanding on the Iran-U.S. ceasefire.

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