Oil falls on US-Iran tensions
Oil prices declined today, Thursday, amid growing concerns over escalating tensions between the United States and Iran and their potential impact on Middle Eastern supplies. Brent crude fell to $95.04 per barrel, while West Texas Intermediate dropped to $90.63, after previous gains. These decreases come following recent days marked by the largest exchanges of gunfire between Washington and Tehran since July, amid ongoing military escalation and Iran's threats to impose fines or seize offending vessels. Additionally, remarks by U.S. President Trump regarding the possible targeting of other Iranian forces, along with reduced shipping activity through the Strait of Hormuz, reflect a state of uncertainty and expectations of a near end to the current tensions.
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