Crude oil contracts were falling more than $5 around midday Wednesday after shipping data showed three supertankers have passed through the Strait of Hormuz.
At noon ET, July NYMEX West Texas Intermediate crude futures were $5.15 lower to around $99/bbl, and August WTI was down $4.65 to $94.50/bbl.
London-based July ICE Brent was off by $5.85 to $105.40/bbl and August Brent was $5.40 lower to $101.30/bbl.
Refined product contracts tracked crude's decline. The more-active July RBOB futures were 14.85cts lower to $3.4255/gal and June RBOB was down 16.25cts to $3.534/gal.
July ULSD was 18.9cts lower to $3.8675/gal and June ULSD was off by 19.85cts to $3.964/gal.
