Oil prices fell to pre-war levels on Thursday as the United States said flows through the Strait of Hormuz were nearing normal and its top diplomat wrapped up a Gulf tour aimed at winning support for a preliminary Iran deal.
U.S. Energy Secretary Chris Wright said shipments through the strait were approaching levels seen before the U.S. and Israel launched strikes on Iran on February 28, with at least 20 million barrels exiting the strait in the previous 24 hours.
During the conflict, Iran took effective control of the vital chokepoint, disrupting oil flows and rattling global energy markets and the wider economy.
