Brent Climbs to $95.36 as Oman Terminal Halts Loading and Hezbollah Rejects Ceasefire
Updated
Updated · Reuters · Jun 5
Brent Climbs to $95.36 as Oman Terminal Halts Loading and Hezbollah Rejects Ceasefire
3 articles · Updated · Reuters · Jun 5
Summary
Brent rose 33 cents to $95.36 a barrel and WTI edged up to $93.06, recovering part of Thursday’s steep selloff as traders priced in fresh Middle East supply risks.
Oman’s Mina al Fahal terminal suspended oil loadings after an explosion near its single-buoy mooring berths in an alleged drone attack, adding to concerns over constrained flows near the Strait of Hormuz.
Hezbollah leader Naim Qassem rejected a U.S.-brokered Lebanon ceasefire proposal, undercutting hopes for a broader U.S.-Iran peace deal because Tehran has tied any agreement to a Lebanon truce.
WTI is still up more than 6% for the week—its first weekly gain in three weeks—while shipping data showed Iranian oil exports at a six-year low under a U.S. naval blockade.
OPEC kept its 2026 oil demand growth forecast at 1.2 million barrels per day, and analysts also warned falling global inventories could sharpen any third-quarter price spike.