Oil prices traded lower on Thursday after surging to a six-month high in the previous session following reports of Houthi attacks on Saudi Arabi’s biggest oil refinery and a decline in U.S. crude inventories.
Brent crude futures dropped 0.7 percent to $114.54 a barrel amid fresh diplomatic efforts to end the war in the Middle East. WTI crude futures were down 0.9 percent at $101.81.
Iran’s Foreign Minister Abbas Araghchi said Teheran continued to give diplomacy a chance. According to the Wall Street Journal, U.S. President JD Vance had reached out to Iranian national security official Mohsen Rezaei.
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Oil Edges Lower On US-Iran Diplomacy Hopes
2026-10-29 09:47:47
