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EXCERPT:
Commercial vessels and oil tankers preparing to transit through the Strait of Hormuz, one of the most critical strategic waterways for global trade flows, maintain their wait in the Gulf of Oman, on June 17, 2026.
Oil fell Tuesday, reversing slight gains at the start of the session, as investors showed cautious optimism about an end to the conflict in the Middle East.
International benchmark Brent crude futures for August fell 1.57% to $76.68 a barrel. U.S. West Texas Intermediate futures for August declined 1.53% to $72.73 per barrel.