Oil prices ease as US Navy escorts ships through Hormuz
Brent crude fell to $113.76 after a Maersk vessel successfully exited the Strait of Hormuz under U.S. military escort. The move eased immediate supply fears.
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Brent Crude Oil fell 0.6% to $113.76 overnight as the United States Navy began escorting commercial vessels through the Strait of Hormuz.
Prices climbed by as much as 6% in the previous session before the United States launched a new operation on Monday aimed at loosening Iran's closure of the waterway, which carries 20% of global oil demand daily.
