Brent crude falls nearly 12% as Iran announces opening of Strait of Hormuz
AI summaryBrent crude futures plunged almost 12% on April 17 after Iran's foreign minister announced the opening of the Strait of Hormuz to commercial shipping, extending a selloff triggered by a US-Iran ceasefire. The move sent ripples through global markets, with Russian oil shares falling and Asian indices surging, while analysts debate the long-term impact on oil prices.