WTI Crude Dips Back Below $76 as Hormuz Reopening Talks Eyed
Oil prices are giving back some of this week’s sharp advance as traders weigh potential easing of Strait of Hormuz tensions.
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West Texas Intermediate crude slipped back under the $76 per barrel mark on Friday, paring a portion of the week’s strong rally. The decline came as market participants assessed diplomatic efforts aimed at reopening the Strait of Hormuz, a critical chokepoint for global oil shipments.
Despite the intraday pullback, the US benchmark remained on course for a weekly gain of roughly 10%, reflecting earlier supply disruption fears.
Traders are balancing geopolitical risk against the possibility of de-escalation, keeping prices volatile near the $75–$76 zone.
Source: FXStreet Forex News