Brent slips 0.9% to $72.33 and WTI drops 0.6% to $69.12 as Iran-U.S. talks and Hormuz flows weigh
AI Market Summary
Crude prices are pressured as Iran'US technical talks and confirmation that Strait of Hormuz flows have returned to pre-conflict levels reduce geopolitical supply-risk premia. Brent and WTI slid to multi-month lows as traders reassess disruption odds after the recent conflict-driven spike. Near-term direction hinges on US EIA inventory data after API showed further stock draws, creating event risk around perceived supply tightness.
Impact level
● High
Affected assets
NCCO1OILBRENT2USD/USDT-2.65%
AI Insight · NCCO1OILBRENT2USD/USDTAI Insight
▼ Bearish
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Iran and the United States held technical talks in Doha focused on stabilizing shipping through the Strait of Hormuz and advancing a ceasefire, as Washington confirmed oil flows through the waterway have returned to pre-conflict levels. Brent crude futures fell 0.9% to $72.33 a barrel and U.S. WTI slid 0.6% to $69.12, the lowest level since February 27. The market is awaiting weekly U.S. inventory figures from the EIA after API data showed stocks fell again.
