Oil prices edged lower during the Asian morning session as traders adjusted positions, though downside pressure remained contained amid renewed geopolitical risks linked to U.S.–Iran tensions.
Support for crude prices comes from heightened supply-disruption concerns after the U.S. Department of Transportation issued a maritime advisory urging U.S.-flagged vessels to stay as far away as possible from Iranian waters, according to ANZ Research analysts. The advisory also noted that Iranian forces have attempted to compel commercial ships into Iranian waters as recently as earlier this month, reinforcing risks to regional shipping routes.
In early trading, front-month WTI crude futures slipped 0.4% to $64.11 per barrel, while front-month Brent crude futures also fell 0.4% to $68.79 per barrel.
While near-term price action reflects tactical positioning, ongoing geopolitical tensions in the Middle East continue to provide an underlying floor for oil markets.
Frequently Asked Questions
Why did oil prices fall during the Asian session?
Oil edged lower mainly due to position adjustments by traders, rather than a change in underlying supply-demand fundamentals.
What is keeping oil prices supported despite the dip?
U.S.–Iran tensions are sustaining supply-disruption concerns, especially risks to shipping routes in the Middle East.
What did the U.S. maritime advisory say?
The U.S. Department of Transportation advised U.S.-flagged vessels to stay as far away as possible from Iranian waters, citing recent attempts by Iranian forces to divert commercial ships.
How did crude benchmarks perform?
WTI crude futures fell 0.4% to $64.11 per barrel, while Brent crude futures declined 0.4% to $68.79 per barrel in early Asian trading.
What should investors watch next?
Markets will closely monitor developments in U.S.–Iran relations, regional shipping security, and any signs of supply disruptions that could quickly shift price direction.
