Crude Oil Prices Drop 4% on Resumption of Hormuz Strait Transit

Naijaonpoint_ng | 06-05-2026 09:46pm |

Crude oil prices ​fell about 4 per cent on Tuesday, as two vessels passed through the Strait of Hormuz and the ‌United States said the ceasefire with Iran remained in place despite both sides trading fire. Brent futures fell by $4.57 or 4 per cent to $109.87 a barrel, while the US West Texas Intermediate

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