Oil extends slide on expectations of smoother crude flows via Hormuz

Oil prices fell more than 1 percent on Wednesday, extending this week's losses and trading near four-month lows, on signs that more oil tankers stranded in the Gulf are set to move out of the ‌Strait of Hormuz.

Brent crude futures fell 78 cents, or 1.0 percent, at $76.30 a barrel as of 0350 GMT.

US West Texas Intermediate slipped 78 cents, or 1.1 percent, to $72.43 a barrel.

Both benchmarks settled down around 1 percent on Tuesday, touching their lowest ⁠levels since early March.

"Positive signa ...