Maroc - ENG.UATV.UA - A La Une - 30/Jan 15:13

Oil Prices Fall After Hitting Multi-Month Highs

Oil prices fell by more than 1% on Friday, January 30, retreating from multi-month highs reached in the previous session, Reuters reports, according to UATV English. Brent crude futures dropped by 91 cents to $69.80 per barrel after rising 3.4% on Thursday and closing at their highest level since July 31, 2025. The more actively traded April contract declined by $1.07 to $68.52 per barrel. U.S. West Texas Intermediate (WTI) crude fell by $1.06 to $64.36 per barrel, after gaining 3.4% in the previous session and settling at its highest level since September 26 last year. According to LSEG senior analyst Anh Pham, oil prices pulled back after Thursday’s rally as expectations of a potential U.S. attack on Iran and a possible blockade of the Strait of Hormuz have not materialized. Tensions in the region have nevertheless intensified amid an increased U.S. military presence in the Middle East. On Wednesday, U.S. President Donald Trump urged Iran to reach a nuclear deal or face a military strike. Tehran responded by warning it would deliver a severe retaliatory blow. As previously reported, oil prices rose by more than 1.5% on Thursday, January 29, driven by growing concerns that the United States could launch a military attack on Iran — a key oil producer in the Middle East — potentially disrupting regional supplies. The post Oil Prices Fall After Hitting Multi-Month Highs appeared first on Freedom.