Crude oil stands at $75 as tankers head to Hormuz after four months of chaos (opens in new tab)

Crude oil prices edged lower on Friday as concerns over supply disruptions eased with more oil tankers moving through the Strait of Hormuz. Around 7 am IST, Brent crude was trading at $74.95 a barrel, down 31 cents or 0.41%, while US West Texas Intermediate (WTI) crude fell 32 cents, or 0.44%, to $71.60 a barrel.