Oil Prices Decline Amid Expectations of Smoother Hormuz Flows
Oil prices extended their slide due to expectations of smoother crude flows through the Strait of Hormuz. This anticipation has led to a continued decline in the market.
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Oil extends slide on expectations of smoother crude flows via Hormuz
Oil prices fell more than 1 percent on Wednesday, extending this week's losses and trading near four-month lows, on signs that more oil tankers stranded in the Gulf are set to move out of the Strait of Hormuz. Brent crude futures fell 78 cents, or 1.0 percent, at $76.30 a barrel as of 0350 GMT. US West Texas Intermediate slipped 78 cents, or 1.1 percent, to $72.43 a barrel. Both benchmarks settled down around 1 percent on Tuesday, touching their lowest levels since early March. "Positive signa
By The Korea Herald
Read full article →Oil prices extend decline on expectations of smoother crude flows via Hormuz
Read full article →Oil extends slide on expectations of smoother crude flows via Hormuz
Oil prices fell more than 1% on Wednesday, extending this week's losses and trading near four-month lows, amid signs that more oil tankers stranded in the Gulf are set to move out of the Strait of Hormuz.
By Abubakar Ibrahim
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