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AP News

Brent slides 4.9% to $92.02 as US and Iran pause Persian Gulf strikes for a second day

AI Market Summary
Oil retreats as the U.S. and Iran pause strikes for a second day, compressing the geopolitical risk premium that had lifted crude to a two-month high on Strait of Hormuz and Red Sea disruption fears. Brent and WTI fell sharply, signaling near-term easing in supply-risk pricing even as U.S. gasoline prices remain elevated. Softer crude may reduce immediate inflation anxiety and rate-hike tail risk, but uncertainty around shipping security persists.
Impact level
● High
Affected assets
NCCO1OILBRENT2USD/USDT-2.21%
AI Insight · NCCO1OILBRENT2USD/USDTAI Insight
▼ Bearish
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⚠️ AI-generated insights are based on news content and are provided for informational purposes only. They do not constitute investment advice or represent the views of BingX. Investing involves risk. Please trade responsibly.
The United States and Iran refrained from launching military strikes in the Persian Gulf for a second straight day, easing geopolitical tensions. September Brent crude fell 4.9% to $92.02 a barrel, while September WTI slid 5.6% to $84.34. The average U.S. price for a gallon of regular gasoline rose to $4.11, according to motor club AAA. The pullback followed a run-up tied to disrupted shipping through the Strait of Hormuz and attacks in the Red Sea that had pushed oil to a two-month high.
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