Oil Slumps for Fourth Day Amid Hormuz Flows and Diplomacy

Oil prices fell for a fourth consecutive session, with Brent dropping toward $101 a barrel and West Texas Intermediate falling below $98.

Crude and liquefied natural gas flows through the Strait of Hormuz have reached a six-month high, according to US Central Command data.

Despite the recent retreat, Brent oil has soared by nearly 70 percent over the year due to ongoing disruptions linked to the conflicts in the Middle East and Ukraine.