The price of oil fell because of the Iranian peace agreement

Oil prices fell sharply as a result of the hopes of the Middle East peace agreement, and Brent crude oil futures fell by $4.50, by more than 5 per cent, to $83.40 per barrel. At the same time, the Japanese yen gained strength after the United States-Japan joint intervention, rising to a three-month high of 156.70 against the United States dollar. The Ministry of Finance of Japan confirmed that further action would be taken to curb the yen devaluation。