Commodities
Oil Prices Rebound Fails to Hold as Geopolitics and Diesel Squeeze Remain
Oil prices saw a decline on Thursday despite Iran's willingness to keep diplomacy alive. The Brent crude price slipped by about 0.9% to $102.13 per barrel in early Asian trade, while West Texas Intermediate fell roughly 0.7% to $91.56.
The pullback came after Brent settled at $103.08 and WTI at $92.16 on Wednesday, when Iranian President Masoud Pezeshkian's defiant UN speech revived fears of a prolonged conflict.
TD Securities strategists Ryan McKay and Bart Melek warned that crude has become increasingly vulnerable to daily headlines as speculative positioning rises. They remain cautious about treating diplomatic signals as durable until a concrete agreement emerges.