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Brent Slips to $105.84 as War Premium Battles Hormuz Anxiety
Oil eases, gold cools, Tadawul drifts lower — but the real story is what's happening in the shipping lanes after dark.
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KA
Karim Al-Rashidi
· 3 min read
Brent settled at $105.84 a barrel this evening, down 1.50% on the day, while WTI closed at $101.28, off 0.88%. On any normal Wednesday in any normal year, those would be uncomfortable prints for energy ministries from Riyadh to Moscow. In May 2026, with a regional war running in the background, they look almost serene.
That serenity is doing a lot of work. The market is, in effect, pricing two contradictory stories at once.
Story one: the war premium is leaking. Traders who loaded up on crude…