Oil prices fell as traders focused on continued tanker movements through the Bab el-Mandeb Strait despite escalating military action involving the U.S., Iran, and regional allies.

Oil prices slip as tankers operate in Middle East conflict zones. New all-time high by September 30 at 6.6% YES, by December 31 at 14.5% YES.

After a dramatic rally in the previous session, oil prices retreated on Thursday as crude continued to move out of the Middle East even as the US-Iran war widened beyond its…