Brent prices decline as US-Iran tensions ease
Easing US-Iran tensions have pushed Brent prices below USD80 per barrel.
The decline in prices is attributed to markets pricing a high probability of normalised Strait of Hormuz flows.
Despite the decline, ongoing operational frictions and precautionary stockpiling are expected to slow further downside in oil prices, with a forecast of USD80 per barrel maintained for end-2026.