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Oil down 2% amid resumption of Hormuz shipments even as vessel hit near Oman

World News

26-06-2026 | 02:42

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Oil down 2% amid resumption of Hormuz shipments even as vessel hit near Oman

Crude prices sank 2% on Friday and were headed for steep weekly losses amid easing supply concerns as more stranded oil tankers exited the Strait of Hormuz, even though a cargo vessel was hit near Oman on Thursday.

Brent crude futures fell $1.47, or 1.95%, to $73.79 a barrel as of 0421 GMT, while U.S. West Texas Intermediate fell $1.44, or 2%, to $70.48 a barrel.

Refining giant Saudi Aramco resumed oil loading on Friday at its Ras Tanura terminal in the Gulf after a near four-month halt, shipping data from LSEG showed. Two Very Large ⁠Crude Carriers were seen loading crude at the terminal, while another waited nearby, the data showed. Each VLCC is capable of loading 2 million barrels of oil.

Reuters

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