Brent locked in stalemate amid Middle East tensions and de-escalation hopes
AI Summary
Brent crude oil prices faced downward pressure, trading near $101.90 per barrel, amid ongoing Middle East tensions and hopes of de-escalation. US President Donald Trump issued stern warnings to Iran contributing to supply-related risk perceptions.
The front-month ICE Brent contract has lost by $0.81/bbl on the day from Friday, to trade at $101.90/bbl at 09.00 GMT. Upward pressure: Brent crude’s price has felt some upward pressure as supply-related risks continue to persist. The US President Donald Trump has issued fresh warnings, stating that Iran risks being “wiped out” entirely, if ...