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US President Donald Trump signaled an end to war in West Asia on Friday. He claimed that the draft of ceasefire with Tehran has been finalized. The agreement will be signed within this week. Not only that, the Strait of Hormuz will also be opened, he said. After Trump’s speech, the price of crude oil plunged in the international market, which fell to the lowest level in two months. After that, India started to see the light of hope.

Brent crude fell nearly 4 percent in a shock move to below $85 a barrel on global markets on Friday. However, it later increased slightly to around $87.50. Before the war, the price of crude oil was about $70 per barrel. According to experts, a long-term peace agreement between the US and Iran could have a major impact on India’s economy. Because India is one of the largest oil importing countries in the world. A large amount of crude oil and LPG enter India through the Strait of Hormuz. So, if this route is normalized, India’s energy import cost can be reduced. This will reduce the price of petrol and diesel. Also, some pressure on the economy will ease.

The international media “BBC” reported that the US President told reporters in the Oval Office on Thursday, “We just reached an excellent agreement on the war with Iran.”
I did.” He told reporters, “The draft ceasefire document is final. Which will be finalized and signed in the next few days. The signing ceremony will likely take place in a European country.” According to sources, this agreement may be signed in Geneva. According to sources, according to the agreement, Hormuz will be fully opened, the US will lift its naval blockade on this waterway. Iran, on the other hand, would completely dismantle its nuclear program and move all of its enriched uranium out of the country.

However, Iran rejected Trump’s claim. Tehran said news of the deal was speculative. Nothing is finalized. In fact, US presidents have made similar claims in the past. He has made such announcements at least 38 times since the start of the conflict, which many consider to be his strategy. International diplomatic and military experts believe that the US president is actually trying to put pressure on Iran by repeatedly making positive comments about the deal.

A section of analysts fear that even if there is a peace agreement, it could be broken at any time. According to them, crude oil prices may rise to $120 to $130 per barrel if oil supply through the Strait of Hormuz is not normalized by the end of July. As a result, the entire world including India will be covered in a cloud of uncertainty.