Oil prices trade near three-month lows as attention turns to a plan to reopen the Strait of Hormuz. Brent crude settles near $83 per barrel after falling nearly 5% in the prior session, according to NDTV. West Texas Intermediate (WTI) is reported to be hovering above $81. The drop reflects recent downside momentum in crude markets, while the market focus shifts to developments around the Hormuz reopening plan, which is viewed by traders as a factor that could influence regional supply and shipping expectations. Across the reports, the main points are that both benchmarks decline—Brent more sharply in the preceding session—and that current pricing remains close to multi-month lows. The outlets do not provide additional details on the timetable or terms of the Hormuz plan, nor do they cite specific company, policy, or inventory figures. The overall coverage emphasizes price levels, the recent move lower, and the market’s forward-looking attention to the Hormuz reopening proposal.