Oil prices ease as OPEC+ increases production, Hormuz traffic rebounds

Naijaonpoint_ng | 07-07-2026 04:21am |

Oil prices edged lower Monday as OPEC+ agreed to increase crude production and shipping traffic through the Strait of Hormuz continued to recover following the US-Iran ceasefire. What happened: Brent crude, the international benchmark, fell 0.15% in trading Monday to $71.87 a barrel as of 8:07 a.m. EDT, after dropping as low as $71.09 earlier

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