Svmuu News: After closing above $100 per barrel, Brent crude edged lower in early trading but is still on track to post a gain of more than 12% this week, as threats to shipping in the Red Sea have sparked concerns about further supply disruptions.Brent crude, the global benchmark for oil prices, fell 1.3% intraday to $99.39 per barrel, while WTI crude futures dropped 1.4% to $90.89 per barrel.
Analysts at ING said: “The key question is: at what price level will the Donald Trump government come under pressure to return to the negotiating table?” They noted that, based on the surge in oil prices seen at the start of the conflict, pressure to de-escalate the situation would increase significantly if Brent crude prices approach $120 per barrel.For Iran, the more pressing issue is not the level of oil prices, but how long the country can withstand a sharp decline in oil revenues under U.S. sanctions. (Jin Shi)