U.S. crude oil falls below $70, resuming losses after attack on cargo ship near Oman

U.S. crude oil fell below seventy dollars per barrel on Friday, extending losses following an attack on a cargo ship near Oman. According to CNBC, markets are weighing conflicting signals: while Middle East tensions could pressure prices upward, falling crude suggests traders are pricing in either contained conflict or weakening global demand. Investors are closely watching for any escalation that could disrupt oil shipments through the Strait of Hormuz, a critical chokepoint for global energy supplies.

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