As oil prices continued to retreat, international benchmark Brent crude briefly touched levels below $74 a barrel on Wednesday afternoon, having traded below $75 since midday for the first time since the Iran war began on 28 February.
Investor confidence has been boosted by increasing tanker traffic through the Strait of Hormuz and progress in the US-Iran peace talks. However, disagreements over nuclear inspections and sanctions remain unresolved, raising questions about how durable the agreement will be.
