Oil price today: Crude steadies below $80 as Hormuz blockade keeps investors on edge

Oil prices nudged higher on Wednesday after a series of declines, as investors keep a keen eye on the diplomatic maneuvers surrounding the US-Iran standoff. Progress is reportedly being made by negotiators striving to bring an end to the conflict and restore access to the Strait of Hormuz. While US crude and gasoline inventories increased last week, there was a drop in distillate stocks.
Read more at the source

Disclaimer: The content of this post is sourced from external sites and is for informational purposes only. All rights and credits belong to the original authors and publishers.