Oil prices settle lower on Strait of Hormuz escort news
Brent crude fell to $100.06 as the U.S. weighed resuming military escorts in the Strait of Hormuz. Prices remained volatile amid reports of a potential deal.
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Brent Crude Oil fell 1.2% to $100.06 on Thursday after the United States considered resuming military escorts in the Strait of Hormuz. The move follows reports that Saudi Arabia and Kuwait granted the U.S. military access to their airspace. Potential military intervention and a temporary deal with Iran could lower the geopolitical risk premium in oil markets.
