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WTI slides to $67 a barrel after U.S.-Israel strikes on Iran, backing Trump’s call on prices

AI Market Summary
Despite Middle East conflict risk, WTI has fallen below pre-strike levels as Chinese import demand weakened, strategic reserves were tapped, tanker flows partially normalized through Hormuz, and war-risk premia faded. The retreat highlights a market prioritizing near-term supply relief and expectations management over geopolitical tail risks. However, the reporting also underscores fragility: renewed shipping attacks, thinner inventories, and a shaky ceasefire keep upside volatility risk elevated.
Impact level
● High
Affected assets
NCCO1OILWTI2USD/USDT-0.78%
AI Insight · NCCO1OILWTI2USD/USDTAI Insight
▼ Bearish
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After U.S. and Israeli airstrikes on Iran, the oil market moved against expectations, with WTI crude briefly falling to $67 a barrel, well below prewar levels. The drop has been attributed to China cutting imports by 3 million barrels per day, releases from strategic reserves, tankers slipping through the Strait of Hormuz blockade, and Trump’s public messaging aimed at steadying expectations. With the ceasefire fragile and Iran recently attacking merchant ships, eased near-term supply pressure has still driven a sharp pullback in prices.
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