US-Iran Tensions Weigh on Oil Prices Amid Disrupted Supplies

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

Brent crude futures fell by $0.56 (0.6%) to $95.07 a barrel at 0752 GMT, while U.S. West Texas Intermediate crude futures were down by $0.50 (0.6%) at $90.51. This was the first decline in four sessions for both contracts.

The latest attacks between the US and Iran have raised concerns about the stability of oil supplies from the region. The war is now in its seventh month, with tensions escalating since July.