Oil Falls for Third Straight Session on Hormuz Shipments, US-Iran Talks Progress
Crude oil declined for a third consecutive session as shipments through the Strait of Hormuz topped 10 million barrels per day and US-Iran talks showed progress, easing supply disruption fears. The bearish outlook is reinforced by improving Gulf exports, though geopolitical risks persist.
Crude oil prices fell for the third straight session, pressured by rising flows through the Strait of Hormuz and diplomatic progress between the United States and Iran.
Shipments through the strategic waterway exceeded 10 million barrels per day, while ongoing US-Iran talks have eased concerns about prolonged supply disruptions. The bearish sentiment is further supported by improving export volumes from the Persian Gulf region.
Despite the current supply relief, Iran continues to insist on maintaining influence over the Strait of Hormuz, leaving geopolitical risks still in play and potential for renewed volatility.
Source: First Squawk