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Global crude benchmark Brent fell as much as 5.2% to $98.12 a barrel, while West Texas Intermediate was near $92.

As the Strait of Hormuz crisis grips the global economy, nations are vying to secure other vulnerable waterways

Abu Dhabi had hit out at countries in region for not doing more to help defend against Iranian attacks

US president is trying to quell an internal backlash from hawks who demand Tehran’s complete surrender

Price of oil falls on hopes of an agreement that could reopen the Strait of Hormuz

In addition to rocket companies that launch payloads into orbit, others in the sector develop satellites and vehicles or provide space-based services like communications or imagery.

“Both sides must take their time and get it right. There can be no mistakes!” Trump said.

Alaska has seen a resurgence of oil industry interest — and investment — driven by discoveries suggesting the state’s crude potential is far greater than previously expected.