Oil Plummets as US-Iran Deal Restores Trade

Following the recent US-Iran agreement, global oil prices have tumbled to pre-war levels as tanker traffic officially resumes in the critical Strait of Hormuz. Brent crude has slipped below $70 a barrel, triggering a much-needed drop in American fuel costs, with US diesel falling under $5 a gallon and gasoline dropping below $4. While the White House previously released strategic reserves to ease the wartime energy crunch, experts warn that global supply remains tight and highly vulnerable to potential Russian export restrictions. Meanwhile, President Donald Trump has ordered a Department of Justice investigation into fuel pricing, aiming to ensure that the rapid decline in crude costs is quickly passed on to everyday consumers.