The Commodities Feed: Oil declines as Strait of Hormuz begins to normalise

AI Summary

Oil prices are declining following the normalization of shipping through the Strait of Hormuz, with NYMEX WTI down over 10% for the week. This reduction reflects easing disruptions to global crude flow caused by prior regional tensions.

Energy – Oil falls on expectations of supply normalisation Oil prices are on track for a weekly decline, with NYMEX WTI down more than 10% versus last week’s close. The move follows the start of normalisation in shipping through the Strait of Hormuz, easing what had been the largest recent disruption to global crude flows. ...