New York / Global – Web Desk: Global crude oil prices declined after remarks by U.S. President Donald Trump suggesting progress in negotiations with Iran, alongside a temporary pause in the “Project Freedom” maritime operation in the Strait of Hormuz.
In international trading, West Texas Intermediate (WTI) crude fell to $100.6 per barrel, while Brent crude eased to $108 per barrel, reflecting reduced market anxiety over potential supply disruptions in the Middle East.
Analysts said investor sentiment improved after signals of diplomatic movement on a possible Iran-related agreement, easing fears of escalation in one of the world’s most critical energy corridors.
Meanwhile, Bloomberg reported that Iraq, one of the largest members of the OPEC, has announced unusual discounts on its crude oil exports, particularly for shipments routed through the Strait of Hormuz.
Market experts note that the Strait of Hormuz remains a key chokepoint for global oil flows, and even small geopolitical developments in the region can significantly impact global energy prices.
