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Oil prices edged down amid subdued Easter holiday trading as investors took some encouragement from news of some oil tankers passing through the Strait of Hormuz, AFP reports.
“There is definitely some sort of volumes being shipped through the strait — by far not at all normalising the commercial ship traffic — but it’s definitely a step in the right direction,” SEB analyst Ole R. Hvalbye said.
Around 10:50 GMT, a barrel of the main Brent benchmark was off 0.8 per cent at $108.2. US equivalent, West Taxes Intermediate, was down 1.4pc at $110.01.
