Oil prices eased on signs of improving tanker traffic through the Strait of Hormuz but remained on track for strong weekly and monthly gains amid ongoing geopolitical tensions.

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.

July 31 : Oil prices rose more than 1 per cent on Friday and remained on track for a monthly rise as reports that some tankers were forced to turn around in the Strait of Hormuz…