LONDON, July 25, 2026 – Brent crude oil retreated from the US$100-a-barrel mark on Friday as traders reassessed geopolitical risks in the Middle East amid signs that global oil shipments continue despite escalating regional tensions.
Brent crude for September delivery fell 3.9% to settle at US$96.78 per barrel, while US benchmark West Texas Intermediate (WTI) declined 3.1% to US$89.31 per barrel, marking Brent’s sharpest single-day drop since late June.
The decline came after reports suggested renewed diplomatic efforts to revive US-Iran negotiations. Reuters reported that Pakistan is exploring ways to help restart stalled talks between Washington and Tehran, while media reports indicated US President Donald Trump met senior advisers to discuss options regarding Iran but had not yet decided on further military action.
Oil prices had surged above US$100 earlier this week following attacks on vessels in the Red Sea and concerns over potential disruptions to energy supplies through the Strait of Hormuz and Bab el-Mandeb shipping corridor.
However, market sentiment eased as Saudi Arabian crude exports continued to flow through alternative routes, including the Suez-Mediterranean pipeline, limiting immediate supply disruptions despite ongoing security concerns.
Analysts said the market is pausing after a sharp rally of more than 30% during July, although supply risks remain elevated due to continued instability in the Middle East and reported attacks affecting the Caspian Pipeline Consortium (CPC), a major export route for Kazakhstan’s oil.
Despite Friday’s pullback, analysts warned that oil markets remain highly volatile, with future price movements likely to depend on developments in the Middle East, the progress of US-Iran diplomacy, and the security of key global energy shipping routes.
