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International oil prices plummeted, marking the largest single-day decline since 2022.
WTI crude oil futures fell by $11.32, a decrease of 11.9%, closing at $83.45 per barrel; Brent crude oil futures dropped by $11.16, a decrease of 11.28%, closing at $87.80 per barrel. U.S. Energy Secretary Rick Perry stated that the U.S. military has assisted in transporting oil out of the Strait of Hormuz.
Reuters quoted analysts as saying, “This is the market’s response to the possible reopening of the Strait of Hormuz.”