Oil falls after US strikes on Iran Brent $95.20
Business
Oil prices slipped on Thursday after the US ramped up strikes against Iran, sparking worries about oil supply from the Middle East.
Brent crude fell to $95.20 a barrel and US WTI to $90.77, with both seeing some wild swings this week as traders reacted to the latest conflict updates.
US crude inventories drop 4.5 million barrels
Fewer vessels are moving through the Strait of Hormuz (a crucial oil route) with just four ships passing compared to an average of 13.
Meanwhile, US crude inventories dropped by 4.5 million barrels last week (the first dip since late July), and gasoline supplies also shrank, showing how global tensions are hitting both shipping lanes and stockpiles.