00:00All prices held steady on Wednesday as ongoing worries about supply disruptions of said comments
00:05by U.S. President Donald Trump that the war on Iran could be over soon.
00:10A source briefed by Tehran said Iran could consider allowing ships to sail freely through
00:15the Omani side of the Strait of Hormuz without risk of attack as part of proposals it has
00:20offered in negotiations with the United States, providing a deal is clinched to prevent renewed
00:25conflict. Brand features rose 14 cents or 0.1 percent to settle at $94.93 a barrel,
00:33while U.S. West Texas Intermediate Crude rose one cent to settle at $91.29.
00:3945 days after Iran's Revolutionary Guards declared the Strait closed, effectively shutting in about
00:4520 percent of global oil and LNG shipments, transit through it remains at only a fraction
00:50of the 130-plus daily crossings before the war, sources said. Cumulative Middle Eastern
00:56crude and condensate supply losses have reached 496 million barrels to date. The U.S. has enacted
01:02a blockade of shipping leaving Iranian ports that its military said has completely halted trade
01:08going in and out of the country by sea.
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