Oil price falls to pre-Iran war levels as more tankers exit strait of Hormuz
Brent crude for August delivery dropped 1.46 percent to $72.66 per barrel, while US West Texas Intermediate fell 1.19 percent to $69.50 per barrel, with both…
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Summary
US Energy Secretary Chris Wright said at least 20 million barrels of oil passed through the strategic waterway during the previous 24 hours, indicating that export flows were approaching normal levels despite lingering operational challenges. The deal also established a 60-day negotiation period focused on broader issues, including Iran’s nuclear programme, while officials expressed confidence that oil flows through the Strait of Hormuz will remain uninterrupted. Brent crude drops below the $72.48 a barrel it traded at in late February before Iran conflict erupted.
Furthermore, Prices have fallen more than 20% this month. Brent crude, the global benchmark, fell to a low of $72.24 a barrel on Thursday, slightly lower than the day before the US and Israel launched missile attacks on Tehran on 28 February.
Cross-referenced from 5 sources.
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US Energy Secretary Chris Wright said at least 20 million barrels of oil passed through the strategic waterway during the previous 24 hours, indicating that export flows were approaching normal levels despite lingering operational challenges.
according to Daily Times (PK)The deal also established a 60-day negotiation period focused on broader issues, including Iran’s nuclear programme, while officials expressed confidence that oil flows through the Strait of Hormuz will remain uninterrupted.
according to Daily Times (PK)Brent crude drops below the $72.48 a barrel it traded at in late February before Iran conflict erupted
according to Financial Times - WorldPrices have fallen more than 20% this month.
according to The Guardian — Economics +2Brent crude, the global benchmark, fell to a low of $72.24 a barrel on Thursday, slightly lower than the day before the US and Israel launched missile attacks on Tehran on 28 February.
according to The Guardian — Economics +2
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