Oil Price Drops Below Pre-Conflict Level as Gulf Supply Returns
📡 Financial Times · 1 min read ·
Part of composite article Oil Crash Slashes Fuel Prices Worldwide: South Africa Cuts Petrol by 1.05 Rand, Indonesia Slashes LNG for Industry View full article →
Brent crude fell below $72.48 a barrel on Tuesday, dipping back to the price it traded at in late February before the Iran conflict began. The decline signals a recovery in Gulf oil flows, easing supply fears that had driven prices higher. Analysts attribute the drop to increased shipments from key producers in the region.