Oil Prices Drop: Brent Falls 1.85% to $99.40 Amid U.S.-Iran Tensions

AI Summary

Oil prices decreased on Thursday, with Brent crude futures for July falling 1.85% to $99.40 per barrel. In contrast, U.S. West Texas Intermediate futures for June rose 1.85% to $93.21 per barrel. Ongoing tensions between Iran and the U.S. have heightened market volatility, impacting overall economic growth expectations. According to Citi strategist Scott Chronert, the length of the conflict may influence the Fed's interest rate decisions. Negotiations between Washington and Tehran appear fragile, adding to market uncertainty.