Oil Prices Slide as Brent Hits $104.67 Amid Supply Risks

Crude oil futures declined by more than one dollar in early trading on Thursday. Market participants are currently assessing threats to supply chains stemming from attacks on vessels navigating the Strait of Hormuz. Simultaneously, investors are evaluating American initiatives aimed at reducing shipping costs through the easing of penalties imposed on maritime carriers.

Brent and WTI Price Movements

At 01:16 GMT, benchmark Brent crude futures dropped by $1.39, representing a 1.31 percent decrease, to trade at $104.67 per barrel. This movement erased gains recorded during the previous session.

American West Texas Intermediate (WTI) contracts also retreated, falling $1.02 or 1.07 percent to reach $94.07 per barrel. The downward trajectory reflects the market's reaction to both geopolitical security concerns and regulatory adjustments affecting logistics.