Brent Crude Erases War Premium, Slides About 40% From March Peak to $72.25

Brent crude has erased its entire war premium, sliding roughly 40% from its March peak near $120 to trade around $72.25 on Wednesday. The retreat follows stalled diplomacy between Iran and the United States, according to BeInCrypto, as traders refocus from conflict risk to supply, demand and the broader economic outlook. Technically, Brent has fallen back into its pre-war support zone around $68-$73, with the daily RSI below 30 for the first oversold reading since April 2025. BeInCrypto said a hold above $68 could allow a rebound toward $80, while a break below $68 would shift focus to support near $60.