U.S. oil prices fall back to preconflict levels as physical flow through the Strait of Hormuz improves (opens original article in a new tab)

U.S. oil prices fall back to preconflict levels as physical flow through the Strait of Hormuz improves. U.S. and global benchmark oil prices have dropped back to levels they haven’t seen since before the U.S.-Israeli war with Iran started at the end of February, but it’s not because risks associated with the conflict have suddenly disappeared.

• U.S. oil prices dropped to preconflict levels
• Physical flow through the Strait of Hormuz improved
• Risks associated with the conflict have not disappeared
• Global benchmark oil prices fell