Oil rebounds to prewar levels as Gulf shipment surge eases pressure

Brent crude slipped to about $72.40 a barrel, dipping back to prewar levels as a wave of Gulf oil shipments flows out and traders reassess risks. About 31 tankers left the Gulf, while US data indicated roughly 20 million barrels had moved through the Strait of Hormuz in the past 24 hours, signaling a short‑term oversupply relief. Analysts say prices may stabilise with a floor around $80–$90, with a gradual rise expected in the coming weeks if supply keeps pace and demand remains supportive, though risks from the broader conflict linger.