Global oil prices break below $80 for the first time since the Iran war began. Ships still aren’t passing through Hormuz. (opens original article in a new tab)

Global oil prices dropped below $80 for the first time since the Iran war began, with shipping data showing reduced tanker traffic through Hormuz.

• Global oil prices fell below $80 for the first time since the Iran war began.
• Shipping data shows only a fraction of normal tanker volumes are moving through the Strait of Hormuz.