Morning Bid: Falling oil calms nervy markets

Crude oil futures declined on Wednesday as markets anticipated additional supply reaching the Strait of Hormuz, marking what would represent the largest weekly price drop since June if sustained. Brent crude slid more than 2% to approximately $86 per barrel. Market participants attributed the move partly to perceptions that military confrontation between Washington and Tehran may be temporarily on hold following a U.S. pivot toward economic sanctions. Concurrent reports of resumed diplomatic di