OIL PRICE TODAY: CRUDE STEADIES BELOW $80 AS HORMUZ BLOCKADE KEEPS INVESTORS ON EDGE

Oil prices nudged higher on Wednesday after a series of declines, as investors keep a keen eye on the diplomatic maneuvers surrounding the US-Iran standoff. Progress is reportedly being made by negotiators striving to bring an end to the conflict and restore access to the Strait of Hormuz.

Times of India reports that oil prices nudged higher on Wednesday after a series of declines, as investors keep a keen eye on the diplomatic maneuvers surrounding the US-Iran standoff.

The report adds: Progress is reportedly being made by negotiators striving to bring an end to the conflict and restore access to the Strait of Hormuz.

While US crude and gasoline inventories increased last week, there was a drop in distillate stocks.

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DAMMNEWS RSS BRIEFING — generated locally from the available Times of India headline and RSS excerpt. It is not a summary of the full source article.