Crude cools off: Oil prices hold near $90 per barrel as US-Iran war tensions ease
Global oil prices are stabilizing near $90 per barrel as tensions between the US and Iran show signs of easing. President Trump indicated that military conflict is not currently necessary, contributing to a cooling of market fears regarding supply disruptions.
Why it matters
Oil price fluctuations directly impact global inflation and energy security, making geopolitical stability in the Middle East a primary economic driver.
Oil prices remained around the $90-per-barrel mark, with Brent crude futures trading at $92.29 per barrel, up 80 cents or 0.87%, while US West Texas Intermediate (WTI) crude futures rose 57 cents or 0.66% to $86.61 per barrel.Both benchmarks had settled at their lowest levels since August 31 for a second consecutive session.The decline comes as easing tensions between the US and Iran have reduced concerns over prolonged supply disruptions in the Middle East.Brent has shed around 17% in recent trading sessions, with Middle Eastern crude exports recovering to near pre-war levels. The recovery has also fuelled concerns about a potential supply glut, adding to the pressure on oil prices.Earlier on Monday, US President Donald Trump said that war with Iran was "militarily ...
Headlinne story · 4 newsrooms
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