Slight Decrease in Oil Prices - Uncertainties in the Middle East Influence the Market

In the spotlight of the commodity markets, oil prices are exhibiting a slight downward trend. A barrel of Brent crude for delivery in June saw a marginal decrease to $87.18, representing a difference of 11 cents from the previous day. Its American counterpart, West Texas Intermediate (WTI), with a delivery date in May experienced an even more minor correction of 3 cents to $82.66. The political intrigue in the Middle East continues to be a factor that keeps investors on their toes. Recent reports from the United States, specifically from the broadcaster ABC, indicate a cautious stance by the government there regarding potential Israeli retaliatory actions against Iran. According to a high-level, anonymous U.S. government official, such a counterattack is not expected before the end of the month – with the outcome always remaining uncertain. However, these geopolitical maneuvers have so far only had limited effects on the price developments of the black gold. Only recently had oil prices come under pressure from an increase in U.S. inventory levels, signaling a rise in supply alongside a sustained robust, but not overwhelming, consumption. Now, price fluctuations are remaining within manageable limits, suggesting a certain market stability.