Full coverage· Economy· Updated
U.S. Gas Prices Fall Below $4 as Iran Deal Eases Supply Fears
U.S. gas prices fell below $4 a gallon for the first time since mid-April after a U.S.-Iran understanding raised hopes of reopening the Strait of Hormuz. The drop gives President Donald Trump some political relief, while the Strategic Petroleum Reserve has also fallen to its lowest level since 1983.
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What happened
- 01U.S. gasoline prices fell below $4 a gallon for the first time since mid-April.
- 02The decline followed a U.S.-Iran memorandum meant to reopen the Strait of Hormuz.
- 03Trump said the strait would reopen after Friday's signing ceremony.
- 04Experts warned shipping may need weeks to return to prewar levels.
- 05The Strategic Petroleum Reserve fell to 340.3 million barrels, its lowest since 1983.
The coverage
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- Centre3
- Right1
- Haredi2
- ArabNone
- Other2
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