Oil prices fall as tankers continue transiting Middle East conflict zones

Crude oil prices fell on Thursday as oil tankers continued transiting the Middle East despite escalating tensions in the region. Brent crude futures fell 1.42% to $89.45/barrel, while US West Texas Intermediate crude slipped 0.66% to $83.90/barrel. A total of 39 commodity ships passed through the Bab el-Mandeb Strait on Tuesday, with only a few transiting the Strait of Hormuz.