Brent crude dropped to $72.24 a barrel on Thursday, the lowest point since before the United States and Israel launched missile strikes on Tehran on February 28, and the price has fallen more than 20% this month. The decline follows increased traffic of oil tankers through the Strait of Hormuz as regional tensions eased after the strikes. Stock markets across the Atlantic rose amid easing fears of an inflationary shock. Analysts attributed the price drop to greater supply availability after additional vessels cleared the waterway and to reduced freight costs, while OPEC+ has not announced any production cuts. The market outlook remains uncertain as the situation in the region continues to evolve.