Benchmark oil prices fell more than $3 on Wednesday to their lowest level since before the start of the Iran war in February as supply concerns eased with more stranded oil tankers exiting the strait.

US Energy Secretary Chris Wright also noted that a record daily volume of energy shipments through the Strait of Hormuz was recorded two days ago

The US and Iran have flagged early progress in discussions to end the war. Read more at straitstimes.com. Read more at straitstimes.com.