Oil prices drop as more ships move through the Strait of Hormuz — Live Feedhttps://www.live-feeds.com/feed/oil-prices-drop-as-more-ships-move-through-the-strait-of-hormuzContinuously updated, source-cited coverage. Oil Prices Decline as Strait of Hormuz Shipments Resumehttps://www.live-feeds.com/feed/oil-prices-drop-as-more-ships-move-through-the-strait-of-hormuzhttps://www.live-feeds.com/feed/oil-prices-drop-as-more-ships-move-through-the-strait-of-hormuz#u22993Fri, 03 Jul 2026 15:01:25 +0000Oil futures have dropped as shipping traffic recovers in the Strait of Hormuz. Prices have returned to levels seen before the war with Iran, though a vessel was recently hit near Oman. U.S. oil has fallen below $70.What's confirmed:Oil prices have returned to levels seen before the war with Iran.Shipments through the Strait of Hormuz have resumed.U.S. oil prices dropped below $70.Still unconfirmed:A vessel was hit near Oman.The U.S. confirmed a retaliatory strike on Iran.The IMF stated energy and commodity prices fell after an Iran deal.Oil futures fell due to a likely technical correction.