ReportedShipping, energy & marketsGlobal oil markets
Brent crude falls nearly 7% as Washington and Tehran signal room for diplomacy
- Mountain Time
- Local time
- 4:36 PM UTC
- Where
- Global oil markets
Brent traded at $105.60 a barrel, down $7.85, while WTI traded at $96.92, down $7.20, after US and Iranian officials signalled willingness to pursue diplomacy, OilPrice.com reported.
Why it matters
The larger intraday sell-off reduces the war premium in crude, affecting fuel-price expectations and the immediate market incentive attached to any Hormuz reopening arrangement.
Source
- OilPrice.comoilprice.comPublished
Confidence: Published by a named news organization. Not yet independently confirmed. About confidence labels