Oil falls as geopolitical tensions rise
Oil prices slightly declined on Thursday, following previous gains, amid rising geopolitical tensions in the Gulf region and escalating tensions between the United States and Iran. Markets showed interest in talks between Oman and Iran regarding the Strait of Hormuz. Brent crude oil fell by 0.40% to $90.38 per barrel after reaching $93.31 during the session, while U.S. West Texas Intermediate dropped by 0.85% to $83.74. This decline comes as investors assess the risks associated with regional disputes and their potential impact on global oil supplies.
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