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Oil prices fall amid steady supplies
Oil prices declined today, Thursday, after sharp gains in the previous session, despite ongoing supply flows through the Gulf passages amid escalating military and geopolitical tensions, such as Trump's threats and tensions between Iraq and Iran. The futures prices for Brent crude dropped by 1.06% to $89.78, and West Texas Intermediate (WTI) by 0.76% to $83.82, amid estimates indicating that approximately 13 million barrels per day still reach the market despite Iranian closures and mobilizations in the Strait of Hormuz. The continued flow of oil through alternative routes reflects the market's ability to absorb these threats, helping to stabilize prices despite heightened geopolitical tensions.
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