May 26 (Reuters) – U.S. crude futures fell more than 6% in early Asian trade on Tuesday after Nikkei reported that the U.S. and Iran are discussing a plan to reopen the Strait of Hormuz about 30 days after the two countries reach a deal to end hostilities. U.S. West Texas Intermediate at 2205 GMT […]
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US crude futures fall over 6% on report of possible Strait of Hormuz reopening
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May 26 (Reuters) – U.S. crude futures fell more than 6% in early Asian trade on Tuesday after Nikkei reported that the U.S. and Iran are discussing a plan to reopen the Strait of Hormuz about 30 days after the two countries reach a deal to end hostilities.
U.S. West Texas Intermediate at 2205 GMT was down $5.90 or 6.1% to $90.73 per barrel. The contract fell 6.5% in the previous session.
(Reporting by Pooja Menon in Bengaluru; Editing by Cynthia Osterman)