Following a strong rise in overnight futures, crude oil futures declined due to a possible technical correction. However, the decline in futures may be limited due to concerns about oil tankers passing through the Strait of Hormuz. The Islamic Revolutionary Guard Corps of Iran attacked a Singapore-flagged cargo ship in the strait on Thursday, according to two senior US officials. Analysts at ANZ Research said in a research report: “At the same time, several merchant ships made a U-turn while trying to cross the strait, which raised new concerns about the continued recovery of oil supply after the reopening of key waterways. “West Texas Intermediate Oil futures fell 0.6% to $71.52 a barrel in recent months.

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