Oil Prices Drop as Strait Blockade Eases

Oil prices plummeted this week, hitting their lowest since late February, as tankers finally clear the Strait of Hormuz, easing supply fears. With 20 million barrels moving through in one day, U.S. Energy Secretary assures Iran won’t block the strait again — and with sanctions easing, Iran may soon ramp up exports, pressuring global markets. Physical oil is already trading at discounts. Meanwhile, U.S. inventories remain tight due to strong refinery demand and a government release, while a Moscow refinery faces six months offline after drone strikes. Support the show:Get a discount at https://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/33250d996b0583e2