Phillip Nova head of market insights Priyanka Sachdeva said oil prices are falling as Gulf supply is restored and hopes of a US‑Iran diplomacy breakthrough grow, prompting the market to trim part of its geopolitical risk premium. She added Brent stil

2026-09-24

Phillip Nova head of market insights Priyanka Sachdeva said oil prices are falling as Gulf supply is restored and hopes of a US‑Iran diplomacy breakthrough grow, prompting the market to trim part of its geopolitical risk premium. She added Brent still carries a larger geopolitical and sea‑lane premium because international crude is more directly exposed to Middle East and Strait of Hormuz disruptions, while WTI is more influenced by relatively insulated US supply.