Oil Prices Unsteady on Thursday

PUKMEDIA

Oil Prices.

Oil prices edged lower on Thursday as traders exercised caution despite ongoing tensions between the United States and Iran.

West Texas Intermediate (WTI) crude fell by $0.70, or 1.03%, to $67.45 per barrel. Brent crude also declined, dropping $0.77, or 1.1%, to $68.98 per barrel.

The pullback follows a sharp rise earlier in the week, driven by concerns over US personnel withdrawals from Middle Eastern diplomatic missions and fears of potential supply disruptions. While geopolitical risks remain elevated, market sentiment appears to be stabilising for now as traders await further developments.

Analysts say any escalation or breakthrough in US–Iran relations could quickly reverse the current trend.



PUKMEDIA