Oil falls as supply starts moving through Strait of Hormuz

AI Summary

Oil prices declined as supply began moving through the Strait of Hormuz following an interim deal between Iran and the US. This agreement is expected to release over 85 million barrels of oil stranded in the Middle East Gulf into global markets, impacting energy and geopolitical dynamics.

Analysts expect the interim deal between Iran and the US to release more than 85 million barrels of oil stranded in the Middle East Gulf into global markets.