-
Oil Retraces From Four-Year High as War Fears Dampen Liquidity
Brent crude cooled off after ripping to a four-year high on anticipation of a protracted US war with Iran, in a session marked by machine-led trading and thin volumes. The most active Brent crude futures steadied near $110 a barrel as the June contract headed toward expiry. Earlier, that contract had surpassed $126 a barrel, the highest since the aftermath of Russia’s invasion of Ukraine in 2022. Outside of Thursday’s sleepy trading, prices have ripped higher this week with the US and Iran deadlocked in their conflict. The stalled peace negotiations also leave in limbo the fate of the Strait of Hormuz, the vital ... (full story)