Announced reopening of Hormuz: Brent oil below $80, a first since March

The Brent crude oil barrel, the global benchmark for crude, fell below $80 on Tuesday for the first time since early March, reacting to the full reopening of the Strait of Hormuz announced for Friday by Donald Trump.

Continuing its decline since the announcement of an agreement between Tehran and Washington to end the war in the Middle East and restore transit through this strategic maritime passage, the price of North Sea Brent crude for August delivery was down 3.72% around 12:25 GMT (14:25 in Paris), at $80.08 a barrel.