Crude Oil is trading 1.4% down at $90.05 as traders further discount the Middle East risk premium following sharp declines earlier this week.
- Prices are pressured by hopes for diplomatic progress regarding Israel–Lebanon and US–Iran, which would ease supply disruption fears and justify lower war-driven pricing.
- Broader market sentiment remains cautious as expectations for higher-for-longer Federal Reserve interest rates weigh on risk assets and energy demand outlooks.