Oil market signals near-term glut as Hormuz tankers exit

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HOUSTON, Texas: Oil markets are beginning to signal a near-term supply glut as tankers resume leaving the Strait of Hormuz, releasing crude that had been stranded in the Gulf during the Iran war. Brent crude contracts for September delivery traded 12 cents above those for August delivery on June 24, marking the first time since the conflict began in late February that later-dated oil was priced higher than promp