Oil prices slipped in early trading on Thursday (Jun 18) after the United States and Iran signed an interim deal to end the war in the Middle East. Shortly after the signing of the US-Iran memorandum of understanding, Pakistan’s Prime Minister Shehbaz Sharif announced that Tehran will reopen the Strait of Hormuz “instantly” and the American blockade of Iranian ports will end “immediately”. The development would mark the end of the largest energy disruption in history that rattled oil prices and global markets.
