Oil prices ease as recovering Hormuz Strait traffic tempers war premium
Oil prices extended declines Friday as signs of a recovery in crude flows through the Strait of Hormuz eased supply concerns, after a resumption of...
Key points
- Oil prices extended declines Friday as signs of a recovery in crude flows through the Strait of Hormuz eased supply concerns, after a resumption of hostilities between U.S.
- Commonwealth Bank of Australia said in a note on Friday that stronger oil flows through the Strait of Hormuz had eased market concerns after U.S.-Iran strikes earlier this week briefly pushed Brent above $93 a barrel.
- Investors also weighed President Donald Trump's call to add tariffs on Iran to a bipartisan sanctions bill targeting Tehran and Russia.
- imported just $1.4 million in goods from Iran in 2025, according to the Office of the U.S.
What happened
More photos
Oil prices extended declines Friday as signs of a recovery in crude flows through the Strait of Hormuz eased supply concerns, after a resumption of hostilities between U.S. Commonwealth Bank of Australia said in a note on Friday that stronger oil flows through the Strait of Hormuz had eased market concerns after U.S.-Iran strikes earlier this week briefly pushed Brent above $93 a barrel. Investors also weighed President Donald Trump's call to add tariffs on Iran to a bipartisan sanctions bill targeting Tehran and Russia. imported just $1.4 million in goods from Iran in 2025, according to the Office of the U.S. "I'd like to see tariffs on Iran. The legislation would also let Trump slap targeted tariffs on goods imported from the top five countries that buy Russian energy and help it evade sanctions.