International Oil Prices Decline Amid Reports US Considers Restarting Strait of Hormuz Escorts
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International oil prices fell today following reports that the U.S. is considering restarting escort operations for merchant ships through the Strait of Hormuz as early as this week. Saudi Arabia and Kuwait have reportedly lifted restrictions on U.S. military use of their airspace and bases, with market optimism also noted regarding a potential limited interim agreement between the U.S. and Iran.