Oil drops as regional tensions ease
Global oil prices declined today, Thursday, with Brent crude falling to $97.14 and US crude to $95.40, driven by indications of easing regional and diplomatic tensions. This comes after the announcement of a ceasefire agreement between Lebanon and Israel brokered by the United States, along with increased expectations of potential understanding regarding the Iranian issue, which alleviated concerns over global energy supply. Additionally, the reduction in U.S. oil inventories to 433.7 million barrels, following an 8-million-barrel decrease, contributed significantly to stabilizing prices.
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