Oil falls as tankers resume Hormuz transit after blockade lifted Oil tankers have begun transiting the Strait of Hormuz again after the United States lifted its blockade on Iran on Thursday, allowing shipping to resume under an interim agreement aimed at ending the three-month war. The reopening of the vital waterway eased concerns over global energy supplies and helped push oil prices lower. Brent crude futures fell 1% on Friday to $79.03 a barrel and were down 9.5% for the week, reflecting growing confidence that a major disruption to Gulf exports may be avoided. Security council says Iran will pursue…
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