cnbc_topnews

Oil prices ease as recovering Hormuz Strait traffic tempers war premium

📰 source: cnbc_topnews · 💼 business

oil prices fell friday as crude flows through the strait of hormuz showed signs of recovering, cooling the war premium that built up after u.s.-iran strikes. wti for september dropped 1.62% to $82.24 a barrel, while brent fell 0.98% to $88.16. earlier in the week, brent had spiked above $93.

commonwealth bank of australia estimates traffic through the strait has recovered to roughly 30%-35% of pre-war levels. a rebound to 50%-60% of normal flows could be enough to push the global oil market back into oversupply, the bank said in a note.

meanwhile, president donald trump called for adding tariffs on iran to a bipartisan sanctions bill targeting tehran and russia. the u.s. imported just $1.4 million in goods from iran in 2025, with art and antiques making up 55% of that value. 'i'd like to see tariffs on iran. it would make it much stronger,' trump said. the bill would also let trump impose targeted tariffs on the top five countries buying russian energy.

why it matters: recovering hormuz flows could unwind the war premium in oil, easing inflation pressures but hitting energy stocks.

source: cnbc_topnews
sentiment: +0.30 · impact: 0.60

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Surprise fall in US jobs last month as slow summer continues

Homes are selling below asking in 38 of the 50 biggest U.S. cities—if you can afford one

China is gaining ground in AI. But the U.S. still has a major advantage

US strikes $1.2bn deal to pay German firm to halt offshore wind projects