Oil Prices Slip 1.3% Amid US-Iran Blockade

Brent crude fell 1.3% to $98.04/bbl and WTI dropped 1.7% to $91.34/bbl in Asian trade.
Decline driven by U.S. blockade of Iranian ports and anticipation of renewed cease‑fire negotiations over the Strait of Hormuz.
U.S. Vice President JD Vance said progress in talks, urging Iran to reopen Hormuz and halt nuclear enrichment.
Earlier, Trump claimed 34 ships passed Hormuz before blockade, but MarineTraffic data shows most vessels avoiding the route.