Oil prices decline after spike due to Strait of Hormuz tensions
after close1 source ↓written by the desknot a recommendation
- after rising
- $73.85 per barrel
- earlier
- 4%
Oil prices have eased after a spike amid renewed violence in the Strait of Hormuz. Brent crude fell over 2% to $73.85 per barrel after rising 4% earlier when the International Maritime Organization paused its evacuation plan for stranded vessels following an incident involving an "unknown projectile". This volatility may impact trading strategies in the energy sector.
Not investment advice. For informational purposes only.