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Oil Set for Longest Losing Streak Since August 2025
Crude Oil Prices Today | OilPrice.com • • business
Key Points:
- Oil prices declined in Asian trading, with Brent Crude falling about 1% to $98.30 and WTI Crude dropping 1.4% to $89.49, marking a sixth consecutive day of losses.
- The drop follows renewed optimism from the first U.S.-Iran talks in months, which raised hopes for a diplomatic breakthrough that could ease Middle East oil supply concerns.
- U.S. President Donald Trump described the meeting as "very productive," with another session scheduled soon, signaling potential progress in reopening the Strait of Hormuz.
- The market is also factoring in the partial reopening of Saudi Arabia's East-West oil pipeline, which was shut for over 10 days after drone attacks, with flows expected to return to about 4 million barrels per day soon.
- Analysts note that despite ongoing tough rhetoric between the U.S. and Iran, traders are increasingly pricing in the possibility of successful negotiations impacting oil supply positively.
