Oil futures dropped below the $70 mark to close the week on Friday, hitting a third straight weekly decline.

Oil futures were on track for their third consecutive weekly decline Friday morning as oil exports from the Persian Gulf have soared following a U.S.-Iranian agreement which allowed for a reopening of the Strait of Hormuz.

U.S. crude futures settled up Thursday for the first time in six sessions after an Iranian attack on a cargo ship in the Strait of Hormuz raised fresh anxiety over the Middle East peace process.

Oil futures fell for a fourth consecutive day Thursday morning, with Brent's front-month contract dropping to pre-war levels in intraday trading, driven by growing confidence that the Strait of Hormuz will remain open and expectations of a flood of oil leaving the region...

Oil futures slid more than 4% on Wednesday as growing vessel traffic through the Strait of Hormuz eased concerns of supply tightness, overshadowing federal data showing weekly U.S. crude inventories falling to a 17-month low last week.

Oil futures dropped to the lowest in nearly four months Wednesday morning after more tankers left the Persian Gulf with transponders turned on as traffic through the Strait of Hormuz continued to show signs of normalizing.

Crude futures fell for a second consecutive day Tuesday in anticipation of greater flows in the near term through the Strait of Hormuz amid continued efforts by U.S. and Iranian peace negotiators to bring a permanent end to this year's Middle East conflict.