Oil prices fall as tankers exit Strait of Hormuz

Oil prices are dropping significantly as tankers resume passage through the Strait of Hormuz following a preliminary peace accord between the US, Israel, and Iran.

This easing of supply concerns has pushed prices towards pre-war levels, surprising many analysts.

Despite ongoing demining efforts, the flow of oil is expected to continue, with nations coordinating to ensure smooth departures and discuss the strait's future management.