Iran's diplomatic efforts in Oman are showing initial success, with traffic in the Strait of Hormuz quietly recovering to 75% of pre-war levels.
Oil flows through the Strait of Hormuz are quietly picking up, and the optimism brought about by diplomatic efforts is eroding the oil price premium that had previously accumulated due to the risk of war.
Brent crude futures fell to an intraday low of $86.22 a barrel on Thursday