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Crude prices slide about 2% as US-Iran truce could reopen Hormuz

  • Crude prices fell about 2% as Washington and Tehran moved toward a possible truce.
  • The Strait of Hormuz could reopen under the proposed truce, according to the report.
  • Traders assessed a potential US diesel-export ban and fresh Houthi strikes against Saudi Arabia.

Crude prices fell about 2% on Friday as Washington and Tehran moved toward a possible truce that could reopen the Strait of Hormuz, the world's most critical oil chokepoint. Traders also weighed a potential US ban on diesel exports and fresh Houthi strikes against Saudi Arabia.

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