WTI Oil Declines on Hormuz Normalization, US Iran Waiver
West Texas Intermediate crude fell for a fourth straight session as the normalization of Strait of Hormuz traffic and a US waiver on Iran sanctions eased supply concerns. WTI traded around $69.30, down 0.65% on Thursday.
WTI
West Texas Intermediate (WTI) crude oil continued its decline on Thursday, marking a fourth consecutive day of losses as supply-side developments weighed on prices. The benchmark traded near $69.30 per barrel, down 0.65% on the day.
The drop follows reports that maritime traffic through the Strait of Hormuz is returning to normal after recent disruptions. Separately, a US waiver on Iran-related sanctions has further eased supply constraints, adding downward pressure on crude markets.
Source: FXStreet Forex News