Oil prices fall for fourth session as Hormuz supply concerns ease
Brent crude fell 1.9% to $101.94 a barrel and WTI also declined as improving flows through the Strait of Hormuz and prospects for renewed Iran diplomacy eased immediate supply concerns.
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9 on Monday, following losses from the previous week as the continued decline in oil prices eased concerns over inflationary pressures. Sentiment improved on renewed efforts to ease tensions in the Middle East and reopen the Strait of Hormuz, after Tehran conveyed conditions to the US through diplomatic mediators for ending the war. Sentiment was also supported by optimism ahead of this week’s closely watched Trump-Xi summit, after US and Chinese officials led by Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng met Sunday to lay the groundwork for the meeting. 7%) advancing.
9%) also posted gains.