Oil prices fall as hopes grow for Hormuz reopening Oil prices fell for a third straight day on Tuesday as hopes that the Strait of Hormuz could reopen weighed on crude markets and raised the prospect of more supply reaching global markets, Reuters reported. Brent crude futures fell more than 2% to $86.41 a barrel as investors assessed the prospect of increased oil flows through the Strait. The drop in oil prices also helped push bond yields lower, with the yield on 10-year US Treasury notes at 4.634% after falling 6.5 basis points on Tuesday, the report added. Five commodity…
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