Oil prices edged down Monday amid subdued Easter holiday trading as investors took some encouragement from news of some oil tankers passing through the Strait of Hormuz. Iran has closed the Strait of Hormuz, a key global waterway, since the US-Israeli strikes on Iran started on February 28 sent global oil and gas prices soaring from around $60 a barrel pre-war. Turkey said its Ocean Thunder tanker, carrying crude oil from Iraq to Malaysia, safely passed through the strait on Sunday. According to the global ship tracking intelligence Marine Traffic, it was coming from Basra in Iraq. Lines said on Monday that an Indian-flagged LPG tanker owned by its subsidiary had passed through the strait.

Source: Punch April 06, 2026 12:28 UTC