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Brent crude oil, the global benchmark, fell below $75 on Wednesday for the first time since the start of the war in the Middle East, as the market was reassured by the gradual resumption of traffic in the Strait of Hormuz.
Brent crude oil, the world’s benchmark, fell below $75 on Wednesday for the first time since the start of the war in the Middle East, as the market was reassured by the gradual resumption of traffic in the Strait of Hormuz.
Falling since last week’s announcement of an agreement between Tehran and Washington to end the conflict and restore transit through this strategic waterway, the price of August-delivery North Sea Brent lost 3.05% around 12:10 GMT (14:10 in Paris), down to $74.73. Its American equivalent, West Texas Intermediate (WTI) for delivery the same month, dropped 2.94% to $71.06.
