Iran attacked a Singapore-flagged cargo ship on Thursday in the Strait of Hormuz, WSJ reported, citing sources.

Oil prices fell as investors bet global crude supplies will improve, as tankers stranded in the Persian Gulf for months have begun leaving the Strait of Hormuz.

Strait of Hormuz traffic has increased sharply, but remains at roughly half its peacetime level, officials said on Thursday as stranded sailors made their way out of the waterway.…