Oil Prices Drop Amid Resumed Hormuz Shipping and US-Iran Talks, Iran Issues Warnings

Global oil prices have fallen to pre-conflict levels as vessel traffic through the Strait of Hormuz has significantly increased, indicating a return to normalcy for energy markets. This development coincides with upcoming diplomatic negotiations between US and Iranian officials concerning Tehran's nuclear program and the strait's future. However, Iran's Revolutionary Guards have issued warnings against unauthorized crossings and plan to impose maritime fees, highlighting ongoing geopolitical tensions despite diplomatic efforts.