Oil prices fell sharply after the full reopening of the Strait of Hormuz, one of the most critical maritime routes for global energy shipments. During the disruption, markets had priced in the possibility of supply shortages and higher transportation risks, which pushed crude higher. Once operations normalized, traders rapidly sold positions built around those fears, causing a steep decline in both benchmark prices.
WTI crude dropped to around $81.89 per barrel, while Brent also posted double digit losses during volatile trading. The move reflects renewed confidence in global supply flows, lower immediate geopolitical risk, and easing concerns that higher fuel costs could add more pressure to worldwide inflation and consumer prices.
SOURCE: https://www.elfinanciero.com.mx/economia/2026/04/17/petroleo-se-desparrama-tras-reapertura-total-del-estrecho-de-ormuz-en-cuanto-se-venden-los-barriles/
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