Oil prices have retreated to levels last seen before the start of the war in the Middle East as the crucial Strait of Hormuz reopens gradually and vessel...

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.

Crude oil prices tumbled on Thursday towards pre-war levels as tanker movement through the Strait of Hormuz picked up, easing earlier supply concerns. After surging past $126 per…