Crude oil extends losses Wednesday, with U.S. crude tipping below $70/bbl for the first time since the start of the U.S.-Iran conflict, after President Trump said Iran told the U.S. that it is not seeking or collecting tolls from ships sailing Newsletters for Every Investor Get…
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If you have an ad-blocker enabled you may be blocked from proceeding. Please disable your ad-blocker and refresh. Entering text into the input field will update the search result below Entering text into the input field will update the search result below Quick Insights Crude oil prices are extending losses, with U.S. crude dropping below $70/bbl, as traders become more optimistic about normalized shipping through the Strait of Hormuz and the potential recovery of Persian Gulf supplies.
Iran’s assurance of not seeking or collecting tolls from ships reduces immediate supply disruption fears, contributing to downward pressure on crude oil prices. President Trump’s call for an investigation into oil company pricing could pressure companies to align gasoline prices more closely with falling crude costs, potentially lowering pump prices