LONDON: Oil prices fell about one per cent on Thursday but remain near the highest since mid-June as the US-Israeli war on Iran escalated, with Tehran asking Yemen’s Houthi movement to be prepared to close the Red Sea oil export route.
Brent crude futures fell 75 cents, or about 0.9pc, to $84.20 a barrel by 1:55pm EDT (1755 GMT). US West Texas Intermediate futures fell 81 cents, or 1pc, to $78.79 a barrel. At their session highs, both contracts were up more than 1pc.
On Wednesday, Brent futures settled at their highest since June 12, and WTI at the highest since June 15.
Published in Dawn, July 17th, 2026
