Oil Slides to $89 as Iran Hints at Strait of Hormuz Reopening Within a Week

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West Texas Intermediate crude oil fell to $89 per barrel following reports that Iran may reopen the Strait of Hormuz within seven days. The strait is a critical global shipping chokepoint through which a significant share of the world's oil supply passes. Iran's signals of a potential reopening eased supply disruption fears that had been pressuring energy markets. Meanwhile, Bitcoin remained relatively stable, trading near the $86,000 level during the same period.

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