Financial Mirror31 Jul 2026

WTI drifts lower to $80 amid gradual increase in Hormuz traffic

Oil prices ticked lower for the second consecutive day on Friday, with the US benchmark West Texas Intermediate hitting session lows a few cents above $80.00.

News reporting a moderate recovery of sea traffic through the Strait of Hormuz has pushed prices lower, although WTI is on track to close the month with a more than 15% appreciation....

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