Crude oil prices decline as Strait of Hormuz shipping stabilizes
after close1 source ↓written by the desknot a recommendation
- a barrel
- $71
- WTI hovered near
- $69
Crude oil prices fell as shipping through the Strait of Hormuz remained stable. Brent crude slipped below $71 a barrel, while WTI hovered near $69. Traders are reassured by easing supply fears following positive developments in US-Iran talks, reducing the risk of a supply shock. This stability may influence fuel costs and inflation rates.
Not investment advice. For informational purposes only.