00:00It's Benzinga bringing Wall Street to Main Street
00:02Oil prices erased wartime gains Thursday as investors bet global crude supplies would
00:07improve after tankers stranded in the Persian Gulf began leaving the Strait of Hormuz, according
00:12to CNBC.
00:13Brent crude futures for August fell 1.3% to $72.75 per barrel, while U.S. West Texas
00:21Intermediate futures dropped 1.1% to $69.60.
00:26Kaepler said more than 20 tankers carrying about 35 million barrels of crude have passed
00:31through the Strait since the U.S. and Iran reached an agreement to reopen the route.
00:35Citi said major de-escalation is now its base case and expects Brent to fall to $60 to $65
00:40over the next 6 to 12 months.
00:42The IRGC Navy warned that vessels must use Tehran-designated routes or face action.
00:47For all things money, visit Benzinga.com
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