A senior US official has said that an agreement to reopen the Strait of Hormuz will be reached today or tomorrow, foreign media reports.
Global crude oil prices have fallen with that statement, with the price of a barrel of Brent crude oil reportedly falling to US$78 and the price of a barrel of WTI crude oil to US$75.
It is reported that uncertainty about supply risks in the global energy market has decreased due to increased expectations of the reopening of the Strait of Hormuz.