Crude oil prices retreat from one-month high amid US-Iran war tensions; Brent at $88 per barrel

Crude oil prices retreated from one-month highs as US-Iran tensions persisted, with Brent crude slipping 0.4 percent to $88.87 per barrel and US WTI steady at $82.47 per barrel. Supply concerns were amplified after Yemen's Houthi rebels threatened to disrupt Saudi maritime trade through the Red Sea, while a tanker was reportedly hit by an unidentified projectile in the Strait of Hormuz. Diplomatic efforts continued, with Iran stating mediators were working on ceasefire proposals to reduce hostilities.