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Global crude oil prices edged lower even as tensions between the United States and Iran continue to escalate, easing immediate concerns over supply disruptions.
According to Reuters, as of 1:00 GMT, benchmark Brent crude fell by $1.29, or 1.42%, to $89.45 per barrel. Meanwhile, US West Texas Intermediate (WTI) crude dropped by 56 cents, or 0.66%, to trade at $83.90 per barrel.
The decline comes despite heightened geopolitical tensions, as oil shipments from the Middle East remain largely uninterrupted, reducing fears of an immediate supply shock in global markets.
This follows a sharp surge in the previous trading session, when Brent crude jumped 7.91% and WTI rose 6.56%—one of the steepest increases since the conflict began. Earlier in the week, prices had also fallen nearly 5% amid a temporary lull in the five-month-long crisis.
Meanwhile, the situation on the ground continues to intensify. The United States Central Command (CENTCOM) carried out overnight airstrikes on multiple military and strategic targets inside Iran. The strikes, which began at 8:00 p.m.
US time on Wednesday, reportedly triggered loud explosions across several southern provinces and islands, according to Iranian state media.
As markets react to both military developments and supply stability, oil prices remain highly sensitive to any further escalation or disruption in the region.
