Oil falls as Strait of Hormuz flows ease

Oil prices declined today, Wednesday, with Brent contracts reaching $76.71 per barrel and West Texas contracts at $72.85, after decreasing by approximately 1% in the previous session. This comes amid indications of the potential return of more oil tankers to the region following the ceasefire agreement between Iran and the United States, as tensions in the Gulf ease. Factors such as the resumption of oil exports and U.S. sanctions exemptions are influencing crude prices.

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