Oil Prices Drop Amid Increased Tanker Traffic Through Strait of Hormuz
Crude oil prices fell over 3% amid increased tanker traffic through the Strait of Hormuz, easing supply concerns following a recent attack on a cargo vessel near Oman. Both Brent and WTI crude futures saw significant weekly declines as fears of an imminent oversupply grew.
Topics: geopolitical_event oil_prices strait_of_hormuz supply_chain