Oil prices slide as covert U.S. ship-to-ship transfers keep Gulf flows moving around Hormuz

Oil prices fell on Tuesday even as a U.S. military network kept Gulf exports moving around the Strait of Hormuz. Brent slid 1.25% to $82.13, while July West Texas Intermediate fell 1.41% to $79.67, pushing the U.S. benchmark below $80. The market rose overnight before reversing lower, after Monday’s drop took prices to their lowest level since March 4.