Oil prices fell Wednesday, with Brent crude down 2.52% at $86.35 per barrel and WTI down 2.17% at $80.56. U.S. sanctions on Iran proved less severe than anticipated, helping markets regain composure as government bond yields eased from recent highs. Meaningful progress in de-escalation talks and discussions between Iran and Oman on a temporary shipping route in the Strait of Hormuz also eased supply concerns. Oman said future management of the waterway would follow through discussions with regional partners to ensure stability and freedom of navigation.
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