Oil prices fall as tankers exit Strait of Hormuz

Brent crude fell 0.54 percent to $73.34 per barrel and WTI dropped 0.38 percent to $70.07 as tankers resumed exits through the Strait of Hormuz following the U.S.-Iran ceasefire accord. Brent had declined more than $3 in the prior session, with markets pricing in a faster-than-expected return of Middle Eastern supply. U.S. Energy Secretary said around 20 million barrels exited the strait in 24 hours, though complete normalcy may take weeks due to demining requirements.