Woofun AI reports that Brent crude oil declined 1.3% to $99.39 per barrel in early trading, while WTI crude futures fell 1.4% to $90.89. Despite the intraday drop, the benchmark is positioned for a weekly gain exceeding 12%, driven by ongoing threats to Red Sea shipping routes that heighten fears of further supply interruptions.

ING analysts stated that the critical factor is determining the price level at which the Trump administration faces pressure to resume negotiations. They noted that if Brent crude nears $120 per barrel, pressure to de-escalate would intensify significantly. For Iran, the primary concern remains the duration it can endure reduced oil revenues under U.S. blockades rather than the absolute price level.