Brent Crude Falls 40% from March Highs, Back to Pre-Conflict Levels
Oil prices have returned to levels seen before the Middle East conflict began, with Brent crude falling almost 40% from its March highs. The decline is attributed to increased supply from the Persian Gulf region.
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Brent crude oil has dropped sharply, returning to pre-conflict levels much sooner than anticipated. The price is now nearly 40% below its March highs, erasing gains made during the escalation in the Middle East.
The decline is driven by an increase in supply from Persian Gulf producers, rather than a single geopolitical trigger. The rapid retreat suggests that previous conflict-driven premiums have fully evaporated, leaving oil markets focused on fundamentals.
Source: FXStreet Forex News