Oil prices edged lower in volatile trade on Wednesday, June 10, 2026, as renewed United States-Iran hostilities muddied direction.
Brent futures fell 9 cents, or 0.1%, to $91.36 a barrel at 0641 GMT, while U.S. West Texas Intermediate crude eased 10 cents, or 0.1%, to $88.10 a barrel.
The benchmark contracts traded higher in the Asian morning on renewed strikes between the U.S. and Iran, and then retreated later in the session.
“The current downside is likely due to profit taking though ongoing tensions and inventory indications are providing a floor to prices,” said Emril Jamil, senior analyst for oil at LSEG.
The U.S. military struck Iranian targets after President Donald Trump vowed on Tuesday to respond to the downing of a U.S. Apache attack helicopter, a fresh escalation that threatens to unravel a fragile ceasefire between the United States and Iran.
A senior market analyst at Phillip Nova, Priyanka Sachdeva, said the latest attacks shifted traders’ focus back toward war risks and potential supply disruptions.
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“While diplomatic efforts remain ongoing, the latest military exchanges have reintroduced a geopolitical risk premium into oil markets,” Sachdeva told Reuters.
Iran said it would resume hostilities if Israel continued to attack the Hezbollah militia in Lebanon.
Israel’s refusal to end its campaign against Iran-backed Hezbollah has hindered Trump’s efforts to extend a tenuous ceasefire in the wider U.S.-Israeli war with Iran into a durable settlement.
“With no imminent deal in sight and with the global oil market tightening significantly every day, we see upside to prices, particularly if these disruptions linger into the third quarter, a period of seasonally stronger oil demand,” ING commodity strategists said in a note on Wednesday.
Meanwhile, Tehran has continued to block most shipping through the Strait of Hormuz, which normally carries a fifth of the world’s crude oil and liquefied natural gas. Washington has imposed its own blockade of Iranian ports.
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