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Here we go again. Why oil keeps tumbling even when the Iran war drags on

CNN · back to the audit

Oil prices tumbled 8% Monday, on pace for crude's biggest single-day decline since May 25.

On Saturday, just one single ship transited the Strait of Hormuz, according to Windward Intelligence. Zero vessels entered.

The market is optimistic over the likelihood of Strait of Hormuz reopening, yet 'terrified' that it won't happen for months.