Brent crude prices have slipped below the $78 per barrel threshold, extending a pullback from earlier session highs.
The decline reflects growing caution among traders as logistical disruptions in the Strait of Hormuz intensify, complicating energy flows from the Persian Gulf.
The price pressure coincides with reports that Qatar Energy is recalling empty liquefied natural gas (LNG) tankers from the region.
The move by the state-owned energy giant signals operational hesitation amid persistent security concerns in the chokepoint, which remains a critical artery for global oil and gas shipments.
This development follows a period of volatility driven by shifting geopolitical expectations.
Earlier gains in crude were fueled by hopes of de-escalation in the Middle East, but those optimism-driven rallies have reversed as on-the-ground risks to shipping routes remain unresolved.