Oil prices slide 3% as some ships transit Strait of Hormuz
NEW YORK, March 16 (Reuters) – Oil prices slid about 3% on Monday after some vessels sailed through the critical Strait of Hormuz, even as U.S. allies rebuffed President Donald Trump’s call for help in unblocking the strait, and as the head of the IEA suggested more reserves could be released to stem the rising costs caused by the Iran war.
Brent futures fell $2.93, or 2.8%, to settle at $100.21 a barrel, while U.S. West Texas Intermediate (WTI) crude fell $5.21, or 5.3%, to settle at $93.50.
