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Oil prices dive further on Strait traffic hopes

World News

26-06-2026 | 12:05

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Oil prices dive further on Strait traffic hopes

World oil prices extended sharp losses Friday on optimism for traffic flows in the Strait of Hormuz despite the suspension of a U.N. evacuation program.

The price of Brent North Sea crude, the international benchmark, dived more than five percent to around $71.50 a barrel and the main U.S. contract, West Texas Intermediate, shed 4.5 percent to under $69.

AFP

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Strait of Hormuz

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