London, March 16, 2026 (AFP) - US oil contract WTI falls 5% on Strait of Hormuz hopes

NAMPA / AFP

2026-03-16

Oil prices slid Monday on hopes more vessels could pass through the Strait of Hormuz, the crucial shipping route that has been brought to a near standstill by the Middle East war. The main US oil contract, WTI, slumped more than five percent to $93.37 per barrel, while international benchmark, Brent North Sea crude, fell more than two percent to $100.28 per barrel. Monitor Marine Traffic on Monday said a Pakistani oil tanker had transited the str......

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