Oil prices eased on Thursday (June 4, 2026) as Israel and Lebanon’s ceasefire agreement boosted hopes for a broader deal to end the U.S.-Israeli war with Iran, while the U.S. House approved a resolution seeking to curb President Donald Trump’s war powers.
Brent futures were down 67 cents, or 0.69%, at $97.14 a barrel by 0015 GMT, while U.S. West Texas Intermediate CLc1 crude fell 62 cents, or 0.65%, to $95.4.
Both benchmarks rose about 2% on Wednesday (June 3, 2026), extending the previous session’s gains, after renewed hostilities in West Asia, including Iranian attacks on Kuwait and U.S. military strikes near the Strait of Hormuz.
– Reuters