Brent Crude Dips Below $90 on US-Iran De-escalation Hopes
Brent oil briefly fell under $90 per barrel as signals of a pause in US-Iran tensions prompted a sharp retreat, ING analysts note.
Brent crude prices dropped sharply on Monday, briefly sliding below the $90/bbl mark. The move came as the United States and Iran signaled a halt to further escalation, easing immediate supply disruption fears.
Analysts at ING, Warren Patterson and Ewa Manthey, pointed to the de-escalation signals as the main driver behind the retreat. The pullback marks a reversal from recent highs driven by heightened geopolitical risk.
Market participants now weigh whether the cooling tensions can keep prices below this psychological level, with attention turning to upcoming inventory data and OPEC+ signals.
Source: FXStreet Forex News