WTI Crude Falls 2.7% as US-Iran Framework Draft Emerges

Iranian state television reported a draft framework between the United States and Iran on Wednesday, aiming to reopen the Strait of Hormuz to pre-war commercial traffic within a month. According to NS3.AI, this development led to a 2.7% drop in WTI crude prices within 30 minutes, pushing U.S. oil futures below $89 per barrel. Tehran emphasized that further actions would depend on tangible verification from Washington.