Crude oil prices continued their downward trend for the fourth consecutive day, according to OilPrice.com. This decline occurred amidst reports that Qatar's Prime Minister was scheduled to visit Tehran to engage in discussions regarding the potential reopening of the Strait of Hormuz.
At the time of the report, Brent crude was trading at $87.46 per barrel. West Texas Intermediate (WTI) was priced at $81.83 per barrel, as stated by OilPrice.com.
The price drop happened despite a new report detailing a strike on a tanker within the Strait of Hormuz. This incident did not prevent the overall decline in crude oil values.
OilPrice.com noted that no specific details about the visit by Sheikh Mohammed bin Abdulrahman al-Thani to Tehran were publicly disclosed. The only information available was a statement from Iran's Foreign Ministry spokesman, Esmaeil Baghaei.
