Global oil prices have fallen by nearly 4%, offering potential relief ahead of the Energy and Petroleum Regulatory Authority (EPRA) fuel review on June 14.

• U.S. crude oil futures dropped 3.7% to USD87.89 per barrel, and Brent crude fell 3.19% to USD91.24.
• This drop follows a temporary easing of Middle East tensions, particularly concerning traffic through the Strait of Hormuz.
• Potential future price increases loom due to threats from Houthi rebels to block the Bab al-Mandeb strait if the conflict in Lebanon continues.