Crude oil prices fell sharply on Friday, with Brent crude dropping $1.47, or 1.95%, to $73.79 a barrel, while US West Texas Intermediate (WTI) declined $1.44, or 2%, to $70.48 a barrel.
The sell-off reflects a rapid repricing of supply risk as reports confirm that a growing number of stranded oil tankers are exiting the Strait of Hormuz, easing immediate fears of a prolonged disruption to global energy flows.
The market's focus has shifted from the volume of trapped vessels to the pace of their release.
South Korea expects three more vessels to exit the Strait this weekend, signaling that the bottleneck is clearing faster than anticipated.
This normalization of transit activity has allowed traders to unwind the risk premium that had been bid into energy prices over the past week.
Despite the easing logistical pressure, security risks in the region remain elevated.