Oil prices retreat as investors weigh supply outlook, West Asia tensions
Oil prices declined on Thursday, with Brent crude futures dropping $1.64 to $104.42 per barrel and U.S. West Texas Intermediate crude down 98 cents to $94.11. This retreat followed investor concerns over supply risks linked to tensions in West Asia, particularly regarding shipping through the Strait of Hormuz. Market reactions will continue to evolve as geopolitical developments unfold.