OilOil refers to a globally traded energy commodity whose price is shaped by supply, demand, inventories, geopolitics, and economic activity. The term belongs in Level 7 because it...Read More prices fell as renewed U.S.–Iran talks raised hopes that the Strait of Hormuz could reopen. Expectations of improved shipping flows eased concerns over supply disruptions and put downward pressure on crude prices.
Oil prices fell on September 25 as investors assessed reported U.S.-Iran negotiations over a phased path toward reopening the Strait of Hormuz and easing Washington's economic blockade. Reuters reported Brent around $102.67 a barrel and WTI near $94.68 in early European trading.
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