West Texas Intermediate falls for a third session, extending losses as geopolitical tensions ease and supply concerns fade.
West Texas Intermediate crude slid below $86.50, reaching one-month lows near $86.00, as an extended US-Iran truce reduced supply disruption fears. The benchmark is down nearly 15% over the past two weeks, marking its third consecutive daily decline.
Prices had previously stabilized above $90.00 amid Middle East tensions, but easing geopolitical risks and softer demand expectations weighed on sentiment. Analysts noted the truce extension reduced immediate supply risks, though longer-term market dynamics remain uncertain.
Traders are monitoring upcoming inventory data and OPEC+ production decisions for further direction.