Oil slides 4.3% to $71.99 as Hormuz shipping continues after Iran attack

Iran attacked a container ship in the Strait of Hormuz on Thursday, raising concerns about the security of a key energy-shipping route. Data the next day showed traffic through the strait had rebounded markedly, and the United States and Iran agreed to a 60day period of talks while pledging to cease hostilities. Brent crude fell 4.3% to $71.99 a barrel and WTI dropped to $69.23, while the U.S. national average gasoline price slipped to $3.90 a gallon. The latest flare-up did not result in a material supply disruption.