WS #12533
WTI crude falls 1% to ~$81.65 and Brent below $89 as reports of US-Iran mediation proposals ease supply disruption fears, though Strait of Hormuz remains effectively closed. Reports emerge that Iran has received mediation proposals including a potential 10-day ceasefire, which could de-escalate the conflict and ease oil supply fears.
Oil prices ease on mediation hopes
WTI crude falls 1% to ~$81.65 and Brent below $89 as reports of US-Iran mediation proposals ease supply disruption fears, though Strait of Hormuz remains effectively closed.
Reports emerge that Iran has received mediation proposals including a potential 10-day ceasefire, which could de-escalate the conflict and ease oil supply fears.