00:00Oil prices have fallen to their lowest level since before the Iran conflict as supply fears
00:06ease. Global benchmark Brent crude briefly dropped below its pre-war level, trading around
00:12$72 a barrel as shipping through the Strait of Hormuz continues to recover.
00:19Energy markets have been volatile in recent months after Iran restricted access to the
00:25Strait of Hormuz, a key route for global oil and gas supply. But last week's agreement to end the
00:31conflict has allowed vessels to return, easing supply concerns. U.S. Energy Secretary Chris
00:36Wright says flows are now near pre-war levels, with around 20 million barrels moving through the route
00:42in the past 24 hours. He says full normalization could take several weeks as the area still needs
00:49to be cleared of mines. Maritime data shows more than 170 vessels have already returned,
00:56but traffic remains below normal, with ships still waiting in the Gulf.
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