Commonwealth Bank of Australia said in a note on Friday that stronger oil flows through the Strait of Hormuz had eased market concerns after U.S.-Iran strikes earlier this week.

Oil prices dropped over $1 as flows through the Strait of Hormuz improved. New all-time high for crude oil by September 30 at 5.6% YES.

Commonwealth Bank of Australia said in a note on Friday that stronger oil flows through the Strait of Hormuz had eased market concerns after U.S.-Iran strikes earlier this week.