Oil falls in early trade as concerns over supply disruptions in the Middle East continue to ease. "While the U.S.-Iran process remains fragile and disputes over [Strait of] Hormuz administration and transit fees persist, we expect the [memorandum of understanding] to hold and turn into a deal over the coming months," Citi Research analysts say in a research report. "Shipping flows [through the Strait] are normalizing," the analysts add. The Strait of Hormuz is a key waterway through which one-fifth of the world's oil is typically transported. Front-month WTI crude oil futures are 0.3% lower at $68.46 per barrel. (ronnie.harui@wsj.com)
Dow Jones Newswires
Oil Falls as Supply-Disruption Concerns Continue to Ease — Market Talk
Oil falls in early trade as concerns over supply disruptions in the Middle East continue to ease. "While the U.S.-Iran process remains fragile and disputes over [Strait of] Hormuz administration and transit fees persist, we expect the [memorandum of understanding] to hold and turn into a deal over…