U.S. crude prices slipped on Thursday as markets weighed the potential implications of upcoming U.S.-Iran discussions in Oman against a backdrop of elevated geopolitical tension in the Middle East. Futures for Oil – US Crude (West Texas Intermediate) retreated about 1% to roughly $64.50 per barrel late in the session, with traders assessing whether talks could ease risks to regional supply routes or instead highlight continuing diplomatic rifts. Global benchmark Oil – Brent Crude also came under pressure, as risk premiums that had been embedded on escalating conflict concerns were partially reassessed.
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Despite the latest pullback, both benchmarks have posted solid gains over the past month, with Oil – US Crude up about 9.7% and Oil – Brent Crude advancing roughly 10.5%, reflecting tighter market expectations and ongoing supply constraints. From a short-term technical perspective, U.S. crude currently carries a Strong Buy 1-day signal, while Brent shows a similar Strong Buy indication, suggesting momentum remains positive even as headline-driven volatility persists. Investors can explore more updates, prices, and analysis across global markets at Commodities.