The price of Brent crude oil fell on Thursday below its levels before the conflict in the Middle East as market confidence grew due to the gradual resumption of traffic in the Strait of Hormuz.
Brent futures for August delivery dropped by over 1%, settling at $72.44 per barrel.
This was slightly lower than the closing price of $72.48 recorded on 27 February, the day before airstrikes by the US and Israel against Iran marked the start of the war.
