NYMEX August WTI light sweet crude futures fell $0.67 to $71.41/bbl (-0.93%) at the close; ICE September Brent futures fell $0.29 to $76.01/bbl (-0.38%).

Iranian foreign ministry spokesman Baghaei said Araghchi will visit Oman to discuss and exchange views on establishing an appropriate mechanism to ensure safe passage of vessels through the Strait of Hormuz.

Iranian media reported multiple sites in southern Iran were struck on July 9. Iran’s Islamic Revolutionary Guard Corps (IRGC) said its Aerospace Force launched 10 ballistic missiles on July 9 in what it called a second-phase response to US military aggression, striking US command-and-control centers in West Asia and the Azraq air base in Jordan. The IRGC warned that further US military action would draw heavy strikes on other US bases in the region.