Oil prices have slightly decreased, influenced by the efforts of the US military to reopen the Strait of Hormuz.

Despite news of another Iranian drone attack on the Kuwaiti Mina Al-Ahmadi refinery, crude oil futures continue to edge lower. Naga's Frank Walbaum stated in a report, "The market is closely monitoring efforts to restore supply, including the potential reopening of the Strait of Hormuz, easing sanctions on major oil-producing countries, and releasing strategic reserves, which could play a key role in stabilizing the market." Walbaum noted that new war-related developments could bring fresh volatility to prices as the week comes to a close. Both light crude oil and Brent crude oil fell by 0.2%.