HORMUZ TALKS RUMORS SEND OIL LOWER

Oil prices fell after reports suggested Iran could reopen the Strait of Hormuz within seven days if U.S. military pressure eases and the blockade on Iranian ports is lifted.

However, Iranian sources have disputed the reports, calling them inaccurate.

The move follows another roughly 3% oil drop during diplomatic activity on Monday, when Brent approached $100 a barrel.
(@WalterBloomberg)