U.S. oil prices fall back to preconflict levels as physical flow through the Strait of Hormuz improves

AI Summary

US and global benchmark oil prices have fallen back to preconflict levels due to improved physical flow through the Strait of Hormuz, despite ongoing risks related to the US-Israeli conflict with Iran. The situation affects commodity price stability worldwide.

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.