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Oil prices ease as US seeks reopening of the Hormuz Strait
Key takeaways
- Dewey/Anadolu via Getty Images Oil prices edged lower in early Wednesday trade in Asia after US President Donald Trump raised hopes for an agreement with Iran to end the war.
- Trump said the US would pause its operation to guide ships through the key Strait of Hormuz trade route - a move that triggered an escalation in attacks in the region - to see if a deal could be made.
- Brent, the global benchmark for crude, fell by 1.4% to $108.40 (£79.86) a barrel, while US-traded oil fell by 1.5% to $100.80.
Why this matters: a developing story that could shape the day's news cycle.
Osmond Chia Business reporter Adam J. Dewey/Anadolu via Getty Images Oil prices edged lower in early Wednesday trade in Asia after US President Donald Trump raised hopes for an agreement with Iran to end the war.
Trump said the US would pause its operation to guide ships through the key Strait of Hormuz trade route - a move that triggered an escalation in attacks in the region - to see if a deal could be made.
Brent, the global benchmark for crude, fell by 1.4% to $108.40 (£79.86) a barrel, while US-traded oil fell by 1.5% to $100.80.
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