Oil prices dip as shipping disruptions continue
Brent crude fell to 101.76 dollars per barrel on Thursday as stalled peace talks and maritime blockades persisted. US exports reached a record high of 12.88 million barrels per day.
Oil prices experienced a slight pullback on Thursday following significant gains in the previous session. The market remains focused on the lack of progress in peace negotiations between the United States and Iran, alongside persistent maritime disruptions in the Middle East.
Brent Crude Oil futures edged down by 15 cents to $101.76 per barrel, after having settled above the $100 threshold on Wednesday for the first time in over two weeks. Similarly, West Texas Oil futures declined by 14 cents to $92.82 per barrel. Both benchmarks had surged by more than $3 during the prior trading day, driven by substantial draws in fuel inventories and geopolitical uncertainty.
