Brent crude futures fell sharply on Friday morning, dropping nearly 4% before European markets opened.
The steep decline marks a significant acceleration in the bearish momentum that has gripped the energy complex over the past week.
The selloff is driven by tangible signs that the tanker backlog, a key indicator of supply disruption risk, is easing.
This development has eroded the geopolitical premium that had propped up prices since the onset of the US-Iran conflict in February.
Traders are increasingly pricing in a normalization of shipping routes, reducing the immediate threat of supply bottlenecks.
This move follows a steady deterioration in the benchmark's price action.