Markets react positively after at least one Iranian tanker makes it through vital Strait of Hormuz
Tankers sail near the Strait of Hormuz amid the US-Israeli conflict with Iran. Photo: Reuters
Oil prices yo-yoed on Monday, opening well above the $100-a-barrel mark after another weekend of furious confusion over the potential outcome of the war in Iran, but swinging lower on news some shipping was moving through the Strait of Hormuz.
Traffic through Hormuz remains at a near-standstill but crude prices fell to around $95 as a trickle of vessels made their way through the strait.