Crude oil prices have seen a rise following the Iran-US war. However, amid tensions in West Asia, some encouraging news emerged on Monday morning. Following this, diesel, petrol, and LPG prices may see a decline in the coming days.

In fact, oil prices fell sharply on Sunday. Brent crude fell 3.9 percent to $84 per barrel, while US crude fell 4.8 percent to nearly $81 per barrel. This decline came after Trump announced that the agreement between Iran and the United States had been reached and that the Strait of Hormuz would now be opened without tolls.

"The agreement with the Islamic Republic of Iran is now complete. I hereby fully authorize the opening of the Strait of Hormuz without any fees. I also order the immediate lifting of the US Naval blockade. Ships around the world, start your engines. Let the oil flow!" Trump wrote.

PC- Jansatta