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Oil prices continue falling amid a pause in fighting in the Middle East. Brent crude is sitting just over 85-dollars a barrel and West Texas Intermediate crude is hovering over 80 a barrel.
Tehran has denied agreeing to a 10-day ceasefire but there has been a pause in hostilities. The fighting has put a dramatic strain on shipping through the Strait of Hormuz, which is where 20 percent of the world’s oil flowed through before the war began.
Passages through the waterway have grinded to a complete standstill at times during the conflict as both nations have enacted blockade policies at times since the conflict began.
