Oil prices pulled back after three consecutive sessions of gains, but further downside might be limited by escalating tensions in the Middle East, constraining flows from the Persian Gulf. Traders are closely monitoring geopolitical developments that could disrupt supply chains, particularly in key export regions. Despite the recent decline, analysts suggest that persistent regional instability may continue to support prices in the near term.
Source: Wall Street Journal US Business · Summarized by HeadlinesBriefing