Oil extends losses as Hormuz traffic recovers following Iran peace talks

🌐 Hellenic Shipping News (Greece) —

AI Summary

Oil prices continue to decline for a third day as traffic through the Strait of Hormuz recovers following improved U.S.-Iran relations and peace talks. The easing of potential energy supply disruptions has contributed to market easing and Brent Oil Futures falling.

Oil prices extended losses on Wednesday, retreating for a third straight session as signs of a gradual reopening of the Strait of Hormuz and improving U.S.-Iran relations eased fears of a prolonged disruption to Middle East energy supplies. As of 05:39 ET (09:39 GMT), Brent Oil Futures expiring in August fell 2% to $75.52 per ...

World Politics Markets Commodities Energy Shipping oil prices Strait of Hormuz U.S.-Iran relations energy markets Brent Oil Futures Middle East energy

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