Oil prices hold steady as markets anticipate easing geopolitical tensions
Oil prices steady as U.S., Israeli strikes on Iran snarl Hormuz shipping and force Iraq output cuts
Oil prices were steady after sharp swings Wednesday as U.S. and Israeli strikes against Iran escalated the conflict and left shipping through the Strait of Hormuz effectively shut for a fifth day, disrupting vital Middle East oil and gas production and trade.
Brent crude fell 0.3% to $81.13 a barrel around 4 p.m. GMT, while West Texas Intermediate slipped 0.4% to $74.30. Both benchmarks had closed Tuesday at recent highs—Brent…