Oil prices drop as US energy chief sees traffic increase in Strait of Hormuz
Oil prices slid about 3 per cent to a seven-week low on Tuesday after US Energy Secretary Chris Wright said he is seeing an increasing amount of traffic through the Strait of Hormuz. “I would say rising very meaningfully,” Mr Wright told an energy conference in Washington when asked where exports st
AI Translated Summary:
Oil prices have fallen to a seven-week low, influenced by increased traffic in the Strait of Hormuz, as noted by US Energy Secretary Chris Wright. This trend may impact regional oil exports and market dynamics.
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