Oil Drops As U.S. Says Ceasefire Is Not Over And Guarantees Passage For a Ship Through Strait Of Hormuz

Oil prices fell after the U.S. guaranteed the continuation of the ceasefire with Iran and ensured the passage of a ship through the Strait of Hormuz. Despite Iran's attacks and the U.S. sinking of Iranian boats, the U.S. stated that the ceasefire was not over. A Maersk ship successfully crossed the Strait of Hormuz with U.S. protection.