Khaberni - Oil prices slightly decreased on Tuesday, amid evaluations of the likelihood of supply disruptions after American guidelines for ships passing through the Strait of Hormuz kept attention focused on tensions between Washington and Tehran.
Brent crude futures fell by 25 cents, or 0.4%, to register $68.79 a barrel by 0102 GMT. U.S. West Texas Intermediate crude dropped 23 cents, or 0.4%, to $64.13.
This followed a price increase of more than 1% on Monday, when the U.S. Maritime Administration, under the Department of Transportation, advised U.S. flagged commercial vessels to stay as far away from Iranian territorial waters as possible and to verbally refuse any Iranian forces' requests to board, if asked.
About one fifth of the globally consumed oil passes through the Strait of Hormuz, between Oman and Iran, making any escalation in the region a significant risk to global crude supplies.
Iran, along with OPEC member countries such as Saudi Arabia, the UAE, Kuwait, and Iraq, exports most of its crude oil through the strait, primarily to Asia.
