Afghanistan, June 24 -- Global oil prices extended their decline on Wednesday, with Brent crude trading near a four-month low as concerns over disruptions in the Strait of Hormuz continued to ease and markets responded to expectations of improved energy supplies.
According to Al Jazeera, Brent crude, the international benchmark, fell 0.5% to $76.71 a barrel in early trading. The decline follows a nearly 1% drop on Tuesday, when prices reached their lowest level since early March.
Analysts said the recent fall reflects growing confidence that shipping through the Strait of Hormuz will remain open despite recent tensions in the Gulf. Traders have also pointed to expectations of stable global supply and reduced fears of a wider regional conf...