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macroJun 11, 2026, 8:42 PM

WTI Retreats to $85 Amid Middle East Peace Hopes

West Texas Intermediate crude oil fell to around $85, its lowest since mid-April, as optimism over a resolution to the Middle East conflict pressured prices.

USOIL

West Texas Intermediate crude oil slipped to around $85 per barrel during early Asian trading on Friday, marking its lowest level since mid-April. The decline was accompanied by a weaker US dollar after President Donald Trump announced a settlement to the war in the Middle East, fueling hopes of an end to the conflict.

The move reflects growing expectations that easing geopolitical tensions could reduce supply disruptions from the region. Oil prices have been sensitive to Middle East developments, and this latest drop signals a shift in market sentiment toward a more bearish outlook for crude.

Source: FXStreet Forex News