Oil Prices Drop Amid US-Iran Strike Uncertainty

Oil prices dropped on Thursday as investors weighed the uncertainty of renewed military strikes between the U.S. and Iran, which could disrupt oil supplies from the Middle East.

The Brent crude futures price fell by 56 cents, or 0.6%, to $95.07 a barrel at 0752 GMT, while the WTI crude futures price was down 50 cents, or 0.6%, at $90.51.

This marked the first decline in four sessions for both contracts.

The latest strikes were the most significant exchange of fire between the U.S. and Iran since July, with the war now in its seventh month.