Is oil down in the stock market a barrel of oil is being sold for so much dollars

Oil prices fell for the second consecutive day due to expectations that peace talks between the US and Iran could resume and supply will eventually be released from the main Middle East production region, blocked by the closure of the Hormuz Strait.

Future crude oil contracts Brant fell to about 95 dollars per barrel from over $100 earlier

The war has largely closed the Strait of Hormuz, a key water route for crude and refined oil coming out of the Gulf towards global buyers, especially Asia and Europe.

Despite a two-week ceasefire, transit across the strait remains uncertain, with traffic only a small portion of the 130 ships moving along this waterway before the war.

According to the IMF's World Economic Perspective, cutting off energy markets through the Hormuz Strait blockade and damage to infrastructure in the Middle East has effectively hampered the recovery of major economies in the world.

Relaunching flows through the Strait of Hormuz remains the most important variable in easing pressure on energy supply, prices and the global economy”.

Goldman Sachs said in a note published Wednesday that streams across the straits remain limited, moving to only about 10% of normal levels, or approximately 2.1 million barrels a day to a four-day average driving average.