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The Economic Times
The Economic Times

Oil edges lower amid resumption of strait shipments even as vessel hit near Oman

Oil Oman IG Venezuela Iran the Strait of Hormuz Earthquakes Hormuz United States

Oil prices fell on Friday morning and are heading 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 19 cents, or 0.25%, to $75.07 a barrel as of 0055 GMT, while ‌U.S. West ⁠Texas Intermediate ⁠fell 13 cents, or 0.18%, to $71.79 a barrel.

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