President Donald Trump has put off a major escalation with Iran
The international waterway remains open for transit despite recent attacks
U.S. West Texas Intermediate crude futures were 3.4% lower
T tanker was hit around 70 nautical miles southwest of Al Shuqaiq
jobless claims for the week ended July 18 came in at 187,000
U.S. Secretary of State Marco Rubio said Washington remains willing to negotiate an end to the war
The Saudis have diverted millions of barrels of oil per day through a pipeline
American forces completed a ninth consecutive night of strikes against Iranian targets
Brent crude futures, the international benchmark, advanced about 3% to trade at $86.73 per barrel
West Texas Intermediate futures lost 81 cents, or 1.02%, to $78.53 a barrel
The U.S. military bombed military targets along Iran's coast Monday night
Qatar and Pakistan are working to bring Washington and Tehran back to the negotiating table
Next-round talks are being scheduled
International benchmark Brent crude futures with September delivery traded 0.3% lower at $72.72
Saudi oil giant Aramco resumed crude oil loadings on Friday
The price of a barrel of oil peaked at $120 in April
The broad market index rose 0.4%
The return to higher production will be gradual
West Texas Intermediate futures fell 2.96% to $74.52 per barre
U.S. forces carried out strikes on Iran on Tuesday night
Oil prices ticked higher and U.S. stock futures fell after Trump’s comments
The fragile ceasefire implemented in April nearly unraveled this week
Hopes of further progress in US-Iran talks have been dashed
Memory stocks rallied, with the Roundhill Memory ETF higher by more than 4% during the session
Oil prices have tumbled more than 10% since May 18
The conflict and resulting blockade of fossil fuel shipping through the strait of Hormuz have sent oil soaring
Analysts expect a return to normal oil flows through the strait will take months
Puig closed 13.4% lower
A senior U.S. official told Axios that the proposal is not a meaningful improvement