Global oil prices fell sharply after Iran announced the reopening of the Strait of Hormuz for commercial shipping during the ceasefire period. The development is significant as the strait is a key route for global energy supplies. The news triggered immediate reactions in international energy markets. Brent crude prices dropped by more than 11 percent […]
WTI oil prices
Oil prices slide as Iran risk eases
Crude oil prices edged lower on Friday and looked set for a second straight weekly decline as concerns about a possible US‑Iran conflict eased. The slide matters for global energy markets and traders who had priced geopolitical risk into crude prices. Brent and US benchmarks both reflected weakening risk premiums amid mixed supply and demand […]