Oil prices ease on Hormuz reopening hopes, despite Houthi threats | live
By Nicole Jao NEW YORK, Aug 5 (Reuters) - Oil prices edged lower on Wednesday on hopes of a de-escalation in Iran war hostilities that could restore shipping traffic in the Strait of Hormuz and oil flows in the Middle East. However, losses were capped by a maritime embargo declared by Yemen's Iran-aligned Houthis on Saudi ports and vessels, heightening risks to Red Sea shipping.
By Nicole Jao NEW YORK, Aug 5 (Reuters) - Oil prices edged lower on Wednesday on hopes of a de-escalation in Iran war hostilities that could restore shipping traffic in the Strait of Hormuz and oil flows in the Middle East. However, losses were capped by a maritime embargo declared by Yemen's Iran-aligned Houthis on Saudi ports and vessels, heightening risks to Red Sea shipping.
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