Oil Prices Drop Over 5% as Geopolitical Risks Ease

Oil Prices Drop Over 5% as Geopolitical Risks EaseTokyo, 2 Feb 2026 (ONA) — Oil prices fell by more than 5%, pressured by easing geopolitical tensions that dampened market sentiment. Brent crude futures declined by $3.30, or 4.8%, to $66.02 per barrel, while US West Texas Intermediate (WTI) crude futures fell $3.23, or 5%, to $61.98 per barrel. Both benchmarks retreated sharply from multi-month highs, as concerns over potential supply disruptions eased amid signs of reduced geopolitical risk.— Ends/Khalid