Afghanistan, June 18 -- Global oil prices fell in early trading on Thursday after the United States and Iran signed a preliminary agreement aimed at ending hostilities and reopening the Strait of Hormuz.
Oil prices declined in early global trading after the United States and Iran signed a temporary agreement to end the conflict and restore maritime traffic through the Strait of Hormuz.
Reuters reported early Thursday that market concerns over potential disruptions to global energy supplies eased following the breakthrough between Washington and Tehran.
Brent crude futures fell by 89 cents, or 1.12 percent, to $78.66 per barrel. US West Texas Intermediate (WTI) crude also dropped by 98 cents, or 1.28 percent, to $75.81 per barrel.
The de...