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Oil prices fall as Hormuz supplies start
Oil prices declined today, Friday, as supplies began flowing through the Strait of Hormuz following the signing of a temporary agreement between the United States and Iran. Brent crude decreased by 0.68%, reaching $78.31 per barrel, while West Texas Intermediate fell by 0.60%, settling at $76.14. Expectations are rising that supplies could increase by more than 85 million barrels of oil stranded in the Gulf. The market is closely watching tanker movements and the impact of the agreement on the stability and flow of oil through the strait.
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