Oil prices fall as shipments restart
Oil prices declined today, heading toward weekly losses, after fears of supply shortages eased following the release of more stuck tankers in the Strait of Hormuz. The price of a barrel of U.S. West Texas Intermediate (WTI) oil reached $70.65, down by 1.77%, while Brent crude settled at $74.03, a decrease of 1.63%. These declines came after gains exceeding 2% driven by attacks on ships in the region, when Iran fired upon a merchant vessel, leading to the suspension of international evacuation programs.
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