Oil edges lower amid resumption of strait shipments even as vessel hit near Oman

BEIJING, June 26 : Oil prices fell on Friday morning and are heading for steep weekly losses amid easing supply concerns as more stranded oil tankers exited the Strait of Hormuz, even though a cargo vessel was hit near Oman on Thursday. Brent crude futures fell 19 cents, or 0.25 per cent, to $75.07 a barrel as of 0055 GMT, while U.S. West Texas Intermediate fell 13 cents, or 0.18 per cent, to $71.