Oil Prices Fall as Hormuz Crude Flows Top Pre-War Levels

Crude oil prices fell in early trading, though Brent remained above $100, after a report from Kpler revealed that flows out of the Strait of Hormuz are now above pre-war levels. The same firm made headlines last week after saying tanker traffic via Hormuz was close to pre-war levels, despite Houthi attacks on Saudi energy infrastructure and Iranian attacks on tankers in Hormuz. At the time of writing, Brent crude was trading at $101.20 per barrel, with West Texas Intermediate at $89.73 per barrel. Brent was actually up from Friday in absolute terms,…