Oil Prices Hit Pre-War Level as Tankers Leave Strait of Hormuz
Part of composite article Iran Missiles Hit US Bases in Kuwait and Bahrain; Trump Threatens ‘Annihilation’ View full article →
Oil prices have dropped to their lowest level since before the US-Iran war, as more tankers exit the Strait of Hormuz. Brent crude, the global oil benchmark, fell to $72.24 a barrel on Thursday. That is slightly below the price on February 27, the day before the US and Israel launched missile attacks on Tehran. Prices have fallen more than 20% this month. The decline has eased fears of another surge in inflation. Stock markets on both sides of the Atlantic rose on the news.