Brent crude falls as Iran and Oman discuss temporary Strait of Hormuz corridor

1. 1Brent crude declined for a third straight day as Iran and Oman advanced plans for a temporary maritime corridor through the Strait of Hormuz.
2. 2Brent dropped more than 9% on the week to $85 per barrel, and the two countries are pushing for permanent corridor talks within 30 to 60 days.
3. 3Against a surge in Iraqi Gulf shipments, markets have begun to price in expectations of an early easing of tensions into oil prices.

Source Bloomberg +1 · View original ↗

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