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Oil Prices Ease as Israel-Lebanon Ceasefire Tempers Market Concerns
Key takeaways
- Brent crude, the international benchmark, fell 1.5% to $96.30 per barrel, while U.S.
- The retreat followed a strong rally in the previous session, when both benchmarks gained nearly 2% and climbed to their highest levels in more than a week.
- Energy markets remained heavily influenced by geopolitical developments surrounding the conflict involving the United States and Iran, which has added a significant risk premium to crude prices.
Oil Prices Ease as Israel-Lebanon Ceasefire Tempers Market Concerns Fiona Craig Thu, June 4, 2026 at 7:42 PM GMT+7 3 min read oil tanks NEW SIZE ©PXHere Oil prices moved lower on Thursday, ending a three-day advance, as traders weighed developments in the Middle East against fresh evidence of tightening crude supplies in the United States.
Brent crude, the international benchmark, fell 1.5% to $96.30 per barrel, while U.S. West Texas Intermediate (WTI) crude declined 1.2% to $94.84 per barrel.
The retreat followed a strong rally in the previous session, when both benchmarks gained nearly 2% and climbed to their highest levels in more than a week.
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