Oil price falls to levels not seen since before Iran war

Energy prices have been on a wild ride since Iran responded to US and Israeli attacks by effectively closing the Strait of Hormuz.

Oil Prices Fall Toward Prewar Levels as Gulf Shipping Resumes

Oil prices fell, moving closer to levels not seen since the war in Iran began in February.

By The New York Times

Oil price falls back to prewar levels as Gulf flows pick up

Brent crude drops below the $72.48 a barrel it traded at in late February before Iran conflict erupted

Oil prices erase wartime gains as supply concerns ease with Hormuz tanker traffic resuming 

Oil prices fell as investors bet global crude supplies will improve, as tankers stranded in the Persian Gulf for months have begun leaving the Strait of Hormuz.

Oil prices retreat back to pre-war levels as vital shipping route reopens

Brent crude fell back to below 73 US dollars a barrel for the first time since the US-Israel war on Iran started on February 28,

By Holly Williams

Crude slips toward $70 as tankers return to Hormuz after US-Iran reach peace deal

Crude oil prices have plummeted towards pre-war levels as tanker traffic through the Strait of Hormuz resumes, alleviating supply worries. Following a surge past $126, oil is now hovering around $70. Improved shipping and potential Iranian exports have eased fears of disruptions, leading to a significant price drop. Traders are now anticipating a surplus as physical crude trades at discounts.

By TOI BUSINESS DESK

Oil prices fall as tankers exit Strait of Hormuz

Oil slides to lowest since U.S.-Iran war outbreak as more ships cross Strait of Hormuz

Oil markets start to signal near-term oversupply as tankers exit Strait of Hormuz 

Prices of Brent crude oil for second-month delivery traded higher on Wednesday than prompt-delivery prices ​for the first time since the Iran war started in late February, signalling increased near-term supply.

By Abubakar Ibrahim