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Oil set for sixth straight day of losses on US-Iran hopes
Brent was about 1% lower in Asia at around $98.30 a barrel, while WTI slid about 1.4% to below $90, driven by renewed expectations for talks and easing Middle East supply worries.
Oil prices fell in Asian trading on Wednesday and were set for a sixth consecutive session of declines, a streak not seen since August 2025, as markets reacted positively to renewed US-Iran diplomacy.
According to OilPrice, Brent crude was down about 1% to roughly $98.30 a barrel, while the US benchmark WTI fell about 1.4% to below the $90 per barrel level, trading around $89.49.
The report said the market sentiment reflected relief over the first US-Iran talks in months and hopes that a diplomatic breakthrough could support the reopening of the Strait of Hormuz and help restore oil flows from the Middle East.
OilPrice also pointed to expectations that Saudi Arabia’s East-West oil pipeline could return to partial operations after being closed for more than 10 days following drone attacks.
Latest closeWTI crude $91.10 ▲3.2%|Brent $103.93 ▲3.7%