U.S. WTI Oil Falls Below $92 a Barrel as Hormuz Fears Ease
Market focus shifted as concerns tied to the Strait of Hormuz, a critical global oil shipping route, appeared to ease, pressuring U.S. crude prices lower.
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Terms & Concepts
WTI: West Texas Intermediate, a benchmark grade of U.S. crude oil used widely in energy markets.
Strait of Hormuz: A strategically important shipping chokepoint through which a large share of global oil exports passes.