Crude oil futures contracts fell about $1 at midday Thursday, weighed down by pre-holiday selling ahead of the long U.S. Independence Day weekend. The declines come amid ongoing peace talks between Washington and Iran in a bid to restart critical Middle East oil flows through the Strait of Hormuz.

Crude contracts fell slightly around midday Wednesday, as Iran and U.S. continued to pursue a peace agreement to fully reopen the Strait of Hormuz, with Persian Gulf oil flows…

Crude futures recover early losses ahead of the U.S. Independence Day holiday. Prices are hovering near pre-conflict levels with market focus on the resumption of flows through…