Crude prices retreated sharply in early Asian trading on Thursday as markets reassessed geopolitical risk following comments from U.S. President Donald Trump that suggested a lower chance of near-term U.S. military action against Iran. U.S. benchmark Oil – US Crude slid about 3% to $60.16 per barrel, while international marker Oil – Brent Crude fell nearly 3% to $64.57. The move marks a swift pullback from earlier gains driven by fears of supply disruption in the Middle East, underscoring how sensitive crude markets remain to shifting geopolitical narratives and signaling that risk premia can unwind quickly when immediate conflict concerns ease.
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Despite the latest session’s decline, both benchmarks are still higher over the past month, with Oil – US Crude up roughly 7.9% and Oil – Brent Crude gaining about 8.4%, reflecting a broader uptrend supported by earlier tensions and underlying demand expectations. From a technical perspective, the 1-day signal for CM:CL is currently Buy, and CM:BZ also shows a 1-day Buy indication, suggesting that short-term momentum remains constructive even after the pullback. Investors can explore more updates, prices, and analysis across global markets at Commodities.