Oil prices traded sharply lower on Thursday, extending recent losses and wiping out all the gains made since the outbreak of the Middle East conflict following progress in U.S.-Iran talks and improving flows through the Strait of Hormuz.
Brent crude futures were down 1.3 percent at $72.94 a barrel, extending losses for a fourth consecutive session as tanker movement through the Strait of Hormuz picked up.
WTI crude futures fell 1.3 percent to $69.41 as rising shipments through key export routes helped ease concerns over global supply disruptions.
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Market Analysis
Oil Extends Losses As Supply Fears Fade
2026-06-25 09:42:36
