Brent Crude Futures Selling Intensifies Before Iran Strait of Hormuz Reopening Announcement

A large crude oil trade worth about $800 million appeared at 8:24 a.m. ET before Iran announced that the Strait of Hormuz was fully open. The new report says WTI crude briefly fell below $80 per barrel by 9:10 a.m. after comments from Iran and Trump. This adds to earlier reporting that 7,990 Brent crude futures contracts worth about $760 million were sold shortly before the reopening announcement, intensifying scrutiny over pre-announcement energy market trading.

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