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Brent falls 8.7% as hopes for US-Iran de-escalation grow

Commerzbank says the selloff is driven more by expectations for shipping conditions through the Strait of Hormuz than by any actual restart of Oil and LNG flows.

Reported · Written up by our desk · Energy

Brent crude slid 8.7% to USD 88.36 as markets grew more optimistic about US-Iran de-escalation, reversing much of the prior week’s gains, according to FXStreet citing Commerzbank strategist Charlie Lay.

Lay noted that shipping through the Strait of Hormuz remains negligible, suggesting the move largely reflects shifts in market assumptions rather than a concrete restoration of global Oil and LNG flows.

While the report focused on Brent, it framed the broader trading backdrop around easing Middle East risk perceptions, which helped pressure the oil benchmark.

FXStreet also pointed to other moves in related markets, including currency and gold price action, alongside separate weakness in Ripple and Stellar on the day.

Latest closeGold $4,078.90 ▲0.3%|WTI crude $81.92 ▼8.3%|Brent $87.83 ▼9.2%

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