SINGAPORE, May 4 (Reuters) – Oil prices dropped more than $1 a barrel on Monday after U.S. President Donald Trump said the United States would begin an effort on Monday morning to free up ships stranded in the Strait of Hormuz.
Brent crude futures fell $1.83, or 1.69%, to $106.34 by 2203 GMT and U.S. West Texas Intermediate was at $100.22 a barrel, down $1.72, or 1.69%.
(Reporting by Florence Tan; Editing by Edmund Klamann)
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