Oil falls as supply starts moving through Strait of Hormuz (opens original article in a new tab)

Oil prices declined as tankers started moving through the Strait of Hormuz following a US-Iran interim peace deal, with Brent and WTI crude falling 0.68% and 0.60% respectively. Analysts anticipate increased supply from the Middle East Gulf if the agreement remains in place.

• Oil prices fell as tankers began moving through the Strait of Hormuz after a US-Iran deal.
• Brent crude futures dropped 0.68% to $78.31, while WTI fell 0.60% to $76.14.
• Analysts expect over 85 million barrels of oil to enter global markets if the deal holds.