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Oil drops as Middle East risks ease
Global oil prices have declined, with Brent crude falling to around $104 per barrel and West Texas Intermediate to about $94. Following developments in the Middle East conflict and a decrease in supply disruption fears, the market has somewhat stabilized. Despite ongoing attacks on Saudi Arabia and tensions between Iran and the United States, oil supplies have not been significantly affected, supported by increased Saudi exports and caution over sustained inventory shortages. U.S. stockpiles have fallen to their lowest levels since June 2025, representing an unprecedented decline. Industry experts expect shipping disruptions and low inventories to persist into the second half of 2027. However, analysts warn of a potential rise in prices again as tensions escalate, despite ongoing delays in Palestinian elections and their impact on the market.
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