Oil prices fallen to levels before the US-Israel war on Iran as traffic through the Strait of Hormuz shipping route gradually resumes, raising expectations of supply from the Middle East outweighed demand concerns.

Brent crude, the international benchmark for oil prices, was trading at $73.81 a barrel at 10:40 a.m. EDT, down 4.2% from Tuesday's close.

Brent crude was trading at around $72 a barrel on Thursday morning, the price it was at the day before the launch of attacks on Iran.

Oil retreats as ships begin passing through Strait of Hormuz

Oil falls should feed through to petrol prices in days