Crypto

Live updates: Oil falls as Iran signals possible Hormuz reopening, bitcoin holds near $86,000

WTI crude oil drops to $89 as reports suggest Iran could reopen the Strait of Hormuz within seven days.

Source: CoinDesk

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DW NOTE

Iran's Fars News denies the Hormuz reopening reports — but 346 non-Iranian ships have already transited the strait since June. The denial matters less than the fact that closure ended weeks ago and dealers are still trading headlines as if it's August.

Read the full story at CoinDesk →

The Indian crude basket hit $123.29 per barrel last week, approaching levels recorded in March 2012, and adding 86% to the price Indian oil marketing companies pay, local media have reported, also noting the effect of a cheaper rupee. Since Indian companies pay for the oil they buy from abroad in U.

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