Crude oil prices decline despite persistent Iran-US geopolitical tensions

Brent and WTI crude benchmarks are tracking weekly losses of 5.3% and 4.3% respectively, decoupling from elevated geopolitical risk premiums associated with Iran-US tensions. Vessel-tracking data indicates tanker traffic through the Strait of Hormuz remains suppressed compared to pre-conflict levels, suggesting that market sentiment is currently prioritizing demand-side concerns over supply-side disruption risks.