Business

Oil Prices Ease as Hormuz Traffic Improves

Updated 2026-07-31 04:25 UTC 1 source Positive

Oil prices have eased due to improved traffic through the Strait of Hormuz, reducing concerns over a potential war premium. The easing is attributed to stronger flows following U.S.-Iran strikes earlier this week.

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CNBC

Oil prices ease as recovering Hormuz Strait traffic tempers war premium

Commonwealth Bank of Australia said in a note on Friday that stronger oil flows through the Strait of Hormuz had eased market concerns after U.S.-Iran strikes earlier this week.

2026-07-31 04:11 UTC