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NATO summit backdrop amid US strikes on Iran rattles oil prices
WTI fell to about 71.8 per barrel and Brent slid near 76.1 as tensions tied to the Iran strikes added risk to energy markets.
Oil prices moved lower as the NATO summit in Ankara took place against renewed US strikes on Iran after an uneasy cease-fire, a development that added to geopolitical pressure on energy markets, OilPrice said.
According to OilPrice’s pricing snapshot, WTI crude was quoted around 71.79 per barrel, down about 2.35%, while Brent was near 76.10 per barrel, down roughly 2.46%.
The report also showed other related contracts weakening, with natural gas around 3.010 per unit, down about 6.3%, and heating oil at roughly 3.560, down about 2.7%.
In the background of the alliance talks, the outlet said NATO leaders discussed a set of issues highlighted by US President Donald Trump, including European defense contributions and potential trade or territorial disputes, as US-European dynamics remained a focus for markets.
Latest closeWTI crude $81.23 ▼1.7%|Brent $85.92 ▼2.8%|Nat gas $2.680 ▼3.1%