War With Iran:

Iran Keeps Strait Shut

North Sea Oil Plunges After Iran Says Strait of Hormuz Reopened

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April 17, 2026 at 4:29 PM UTC

North Sea crude oil prices plunged in a key pricing window after Iran said it would reopen the Strait of Hormuz during a ceasefire in the Middle East conflict.

The major North Sea crudes and US WTI Midland fell by $5-$7 a barrel on Friday, according to traders monitoring a pricing window run by Platts, a unit of S&P Global Energy.