US crude futures fall over 6% on report of possible Strait of Hormuz reopening


May 26 (Reuters) – U.S. crude futures fell ‌more than ‌6% in early Asian ​trade on Tuesday after Nikkei reported that the U.S. ‌and Iran ⁠are discussing a plan to ⁠reopen the Strait of Hormuz ​about 30 ​days ​after the ‌two countries reach a deal to end hostilities.

U.S. West Texas Intermediate at ‌2205 GMT was ​down $5.90 ​or ​6.1% to $90.73 ‌per barrel. The contract ​fell ​6.5% in the previous session.

(Reporting ​by ‌Pooja Menon in ​Bengaluru; Editing by ​Cynthia Osterman)



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