Oil Heads for Weekly Slump as Hormuz Flows Seen Picking Back Up (opens original article in a new tab)

Oil prices fell as shipping through the Strait of Hormuz resumed normal operations following a US-Iran interim peace deal, with Brent crude dropping 9% for the week and 10 million barrels of oil observed in the waterway.

• Oil prices dropped as shipping through the Strait of Hormuz returned to normal following a US-Iran interim peace deal
• Brent crude fell to $79 a barrel, down 9% for the week, while WTI was near $75
• Ships with 10 million barrels of oil were seen in or passing through the Strait, including Saudi-owned tankers for the first time in three months
• Abu Dhabi National Oil Co. instructed customers to resume loading crude oil from Persian Gulf ports