(Credit - BeInCrypto)
Crude Slumps to Multi-Month Lows as Trump Pauses Iran Strikes
Global crude benchmarks tumbled to their lowest levels since August on Tuesday as US President Donald Trump held off on immediate military strikes against Iran, easing supply disruption fears while a naval blockade in the Strait of Hormuz remained active. Energy markets reacted swiftly as regional diplomatic talks and appeals from Gulf allies shifted trader sentiment across major trading hubs.
Brent Slips Below $90 While WTI Holds Near $86
Brent settled Monday at $92.57 before extending losses to touch $89.65 on Tuesday, marking its lowest point since August 31. West Texas Intermediate traded at $86.04 a barrel, down 81 cents, while Murban crude registered at $92.07 and Dubai crude at $93.59.
The downturn stems from discussions between Trump and regional leaders, including Qatar’s Prime Minister Sheikh Mohammed bin Abdulrahman Al Thani. Gulf nations, comprising Qatar, Saudi Arabia, the United Arab Emirates, Bahrain, and Kuwait, indicated support for maintaining the status quo, which combines the ongoing naval blockade with Operation Iron Gate. The latter is a task force of about 20 staff formed Saturday by US Central Command to disrupt weapons shipments across Iran‘s land borders and the Caspian Sea.
The current slide follows weeks of heightened market volatility driven by regional conflict and tanker incidents near the Arabian Peninsula, though traders point to ongoing diplomatic efforts in the region as key drivers of lower crude rates.
