Pakistan, June 26 -- Global oil prices fell nearly two percent on Friday as crude shipments through the Strait of Hormuz continued recovering. The decline came despite a cargo vessel being struck near Oman a day earlier. Lower supply concerns eased pressure on energy markets and oil traders.

Brent crude dropped 1.99 percent to $73.76 per barrel, while US West Texas Intermediate fell 2.07 percent to $70.43. Both benchmarks are on track for weekly losses of around eight percent. Investors responded to improving tanker movements through the strategic waterway.

Saudi Aramco resumed crude loading at its Ras Tanura export terminal after a nearly four-month suspension. Shipping data showed two very large crude carriers loading oil while anothe...