Brent fell 1.85% to $101.68 and WTI 1.82% to $94.34 as markets reassessed near-term conflict risk, while recovering Gulf crude flows and an unexpected 5.27 million-barrel US stock draw sent competing physical signals.
By 10:15 a.m. New York time, the S&P 500 was up 0.8%, the Dow 1.1% and the Nasdaq 1% as Brent fell 6.7% to $105.87; the moves recovered part of Friday’s losses but did not resolve the oil shock or doubts about AI capital returns.
Brent and WTI were on course for weekly gains of 3.4% and 4% after Washington raised the prospect of an indefinite blockade of Iran, although weaker demand forecasts and a record-sized U.S. inventory build limited the signal.
