Recent trading has seen oil prices fall below $80 per barrel for the first time since March, reaching new three-month lows primarily influenced by the reopening trade in the Strait of Hormuz and shifting diplomatic dynamics between the US and Iran. As traders wait for insights from Federal Reserve Chair Jerome Powell, concerns over China’s demand and a potential Trump-Iran deal also contributed to the bearish sentiment. Meanwhile, US stock markets remain mixed, with tech stocks exerting downward pressure, as illustrated by fluctuations in major indices.