Oil falls after recent jump amid war uncertainty

Oil prices declined on Thursday after earlier experiencing a sharp surge, despite increasing attacks in the Middle East and escalating geopolitical tensions, including Trump's threats to strike Iran following an Iranian missile attack on a U.S. base in Jordan. Brent crude fell to $90.23 per barrel, while West Texas Intermediate dropped to $83.98, after strong gains on Wednesday of 7.91% and 6.56%, respectively. The market is also watching for potential alternative supplies following Iran's closure of the Strait of Hormuz and disruptions to shipping traffic through the Bab el-Mandeb Strait, with investors monitoring oil flow volumes and transport flexibility in the region.

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