Oil prices declined on Thursday, continuing a streak of losses, as optimism increased for a reopening of the crucial Strait of Hormuz due to diplomatic initiatives involving Iran and Oman. A reopening could alleviate apprehensions regarding supply disruptions stemming from the conflict in the Middle East. Brent crude futures declined by 60 cents, or 0.7%, Read More
Oil prices declined by 3% on Wednesday, continuing the downward trend from the prior session, as new optimism surfaced regarding the potential reopening of the Strait of Hormuz, following Iran’s announcement of resumed discussions with neighbouring Oman concerning the management of this crucial waterway. The market remains responsive to developments regarding navigation through the Strait Read More
