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Oil Prices Dip as Vance Cites Tanker Traffic Surge Through Strait of Hormuz
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Oil Prices Dip as Vance Cites Tanker Traffic Surge Through Strait of Hormuz

Oil prices fell Thursday after VP JD Vance stated over 12 million barrels of oil crossed the Strait of Hormuz overnight, a high since the conflict began. Brent crude futures dropped 1.8% to $78.11, and WTI futures fell 2% to $75.27. The US and Iran signed a deal to end the war, allowing ships transit without tolls for 60 days and lifting the US naval blockade.

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