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The Independent UK
The Independent UK
Business
Stuti Mishra

Oil prices fall to pre-war levels as Strait of Hormuz shipping slowly recovers

ING Oil Donald Trump United States Iran

Oil prices fell to levels last seen before the US-Iran war as the gradual resumption of shipping through the Strait of Hormuz continued to drain the risk premium that had pushed crude to its highs during the conflict.

West Texas Intermediate, the US crude benchmark, fell to around $68.00 a barrel on Thursday morning, while Brent crude, the international benchmark, dropped to $71.16.

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