Oil declines amid Iran negotiations
Oil prices declined by more than 1% today, Wednesday, amid anticipation of an agreement between the United States and Iran regarding the passage of oil through the Strait of Hormuz. However, the decline was limited due to uncertainty about the full resumption of shipments. Brent crude fell to $77.8 per barrel, and West Texas Intermediate to $74.7 per barrel, after roughly a 5% loss in the previous session. Expectations are for a gradual recovery in oil supplies following a preliminary agreement that allows Iran to sell oil and lift the blockade on Iranian ports.
Size: 120%Text Size
Notice: This Is an AI-Generated Summary
Comments (0)