Brent Slips as Middle East Risks Ease and China Demand Falls

2026-06-09 14:02 By Agna Gabriel 1 min. read

Brent fell more than 4.5% to around $90 per barrel on Tuesday, the lowest since April 17, after Israel and Iran agreed to halt attacks following a renewed escalation in hostilities.

Israeli Prime Minister Benjamin Netanyahu said Israel would pause strikes but warned it would respond to any further attacks from Tehran, while Iranian media reported a similar position.

President Donald Trump said this week that negotiations were entering the final stage and that a clearer outcome could emerge within days.

Meanwhile, China’s crude imports dropped to around 7.8 million barrels per day last month, the lowest level in more than eight years and nearly 4 million barrels per day below the 2025 average.

Weaker demand from the world’s largest oil importer, combined with record US exports and emergency reserve releases, has helped limit the price impact of the conflict.

Oil remains above prewar levels but well below recent highs.



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