London, June 25 -- Oil prices have fallen closest to their pre-war levels yet, with shipping activity through the Strait of Hormuz continuing to recover as Washington seeks regional backing for reaching a broader comprehensive agreement with Tehran.
US Energy Secretary Chris Wright said oil flows through the strategic waterway are approaching close to normal levels, with at least 20 million barrels of crude passing through the strait during the previous 24 hours, reports Times Of Israel.
The Strait of Hormuz, which handles a fifth of total global oil and liquefied natural gas exports, became the focal point of the war after Iran effectively took control of the chokepoint in response to US and Israeli strikes launched on February 28, with ...