WS #16516
Brent crude has fallen nearly 5% to $109.60, reversing some of the previous day's geopolitical premium. The decline is attributed to the resolution of the Salavat refinery attack and signs that US-Iran tensions may not escalate further. This pullback alleviates immediate inflation fears for airlines and consumer discretionary sectors, though oil remains elevated due to structural supply risks.
Oil Price Correction
Brent crude has fallen nearly 5% to $109.60, reversing some of the previous day's geopolitical premium. The decline is attributed to the resolution of the Salavat refinery attack and signs that US-Iran tensions may not escalate further. This pullback alleviates immediate inflation fears for airlines and consumer discretionary sectors, though oil remains elevated due to structural supply risks.