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Breaking Posted 10 hours ago

Oil Prices Fall as Hormuz Strait Supply Flows Resume After Iran Pact

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Oil prices dropped after supply shipments resumed through the Strait of Hormuz following a war pact involving Iran. The development eased fears of a major supply disruption in one of the world's most critical oil transit routes. Falling oil prices weigh on petrocurrencies like the Canadian dollar (USD/CAD) and Norwegian krone (EUR/NOK), while safe-haven demand for JPY and USD may ease. Traders should watch USD/CAD closely, as Canada's oil-linked economy makes it highly sensitive to crude price swings.
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