Daily Market Updates: U.S. crude dips below $80 on hopes for Hormuz-related deal

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U.S. crude dips below $80 on hopes for Hormuz-related deal

Reported · Written up by our desk · Energy

Oil prices slid on Wednesday, with U.S. crude falling below $80 as traders weighed prospects for a deal tied to Hormuz.

CNBC Markets said the move reflects investor expectations that the United States may favor economic sanctions over military strikes to increase pressure on Iran.

The reports pointed to shifting policy assumptions as the key driver behind the drop in crude, as market participants recalibrated the risk outlook.

Latest closeWTI crude $82.40 ▲1.4%

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Sources

CNBC MarketsU.S. crude falls below $80 as oil prices sink on Hormuz deal hopes

CNBC WorldU.S. crude falls below $80 as oil prices sink on Hormuz deal hopes

Commodities

U.S. crude dips below $80 on hopes for Hormuz-related deal

More like this

Sources

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