20.03.202607:06:20UTC+00Oil Slips as Supply Concerns Ease

WTI crude futures slipped toward $94 per barrel on Friday, retreating from levels above $100 in the prior session as easing supply fears helped steady markets. Leaders from the UK, France, Germany, Italy, the Netherlands, Japan, and Canada signaled their readiness to back efforts to secure safe passage through the Strait of Hormuz. US President Donald Trump said Washington is not considering sending ground troops to the region, while Treasury Secretary Scott Bessent suggested Iran’s regime could face internal collapse and indicated that the US is exploring the possibility of lifting sanctions on Iranian oil. Israeli Prime Minister Benjamin Netanyahu also said Israel would refrain from further strikes on Iranian energy infrastructure. Despite the pullback, WTI futures remain roughly 40% higher since the onset of the conflict, as disruptions have effectively closed the Strait of Hormuz and forced major regional producers to sharply curtail output.