Crude oil prices decline as supplies improve via Hormuz
pre-market1 source ↓written by the desknot a recommendation
- 0.8%
- per barrel
- $76.50
- 0.6%
- $72.60
- on sanctions
- 60-day waiver
Crude oil prices fell further towards pre-war levels, with Brent crude down 0.8% to $76.50 per barrel and WTI crude down 0.6% to $72.60. This decline follows ongoing US-Iran peace negotiations, which include a 60-day waiver on sanctions for Iran's oil industry. However, Qatar warns that restoring shipping traffic through the Strait of Hormuz will take time.
Not investment advice. For informational purposes only.