Oil Prices Ease as U.S. Escorts Ships Through Hormuz
Brent crude fell to $113.06 as a U.S. military escort allowed a ship to exit the Gulf. Ongoing fighting with Iran continues to limit broader price declines.
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Brent Crude Oil fell 1.2% to $113.06 on Tuesday midday following a United States operation to reopen the Strait of Hormuz. Prices previously surged 5.8% on Monday after Iran launched attacks on merchant ships and a regional oil port. Investors are weighing the success of "Project Freedom" against the risk of 20% of global supply remaining blocked.
