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Bangkok Post
Bangkok Post
Business

Oil down 2% amid resumption of Hormuz shipments even as vessel hit near Oman

Oil Oman Hormuz ING Ras Tanura the Strait of Hormuz
Ships and boats in the Strait of Hormuz, Musandam, Oman, on May 1, 2026 (Photo: Reuters)

NEW DELHI — Crude prices sank 2% on Friday and were headed for steep weekly losses amid easing supply concerns as more stranded oil tankers exited the Strait of Hormuz, even though a cargo vessel was hit near Oman on Thursday.

Brent crude futures fell US$1.47, ​or 1.95%, to $73.79 a barrel as ⁠of 0421 GMT, while US West Texas Intermediate fell $1.44, or 2%, to $70.48 a barrel.

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