Oil heads for longest losing streak since August 2025 as Brent slips to $98.30
AI Market Summary
Crude extended losses to a sixth straight session, driven by easing geopolitical risk premia. Renewed U.S.-Iran talks raised expectations of improved Middle East supply security, while Saudi Arabia's East-West pipeline restart and Aramco's plan to restore flows toward ~4 mbpd reduced concerns over disruption via the Strait of Hormuz. The combination pressures near-term pricing by lowering perceived supply risk and improving logistical flexibility.
Impact level
● Medium
Affected assets
NCCO1OILBRENT2USD/USDT+3.55%
AI Insight · NCCO1OILBRENT2USD/USDTAI Insight
▼ Bearish
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International oil prices fell for a sixth straight session, with Brent down about 1% to $98.30 and WTI down 1.4% to $89.49. U.S.-Iran talks held at the United Nations, alongside the restart of a previously disrupted Saudi pipeline, eased concerns over potential Middle East supply disruptions. Saudi Aramco plans to restore pipeline flows to roughly 4 million barrels per day (bpd) within a few weeks.
