Oil prices fell on Tuesday, with U.S. benchmark crude slipping back under $100 a barrel as traders held out hopes for regional diplomatic efforts to ease Middle East tensions.
The decline came as market participants weighed the potential for de-escalation in the region, which has been a key driver of price volatility in recent weeks.
Energy traders noted that while supply disruptions remain a concern, renewed diplomatic activity has provided some relief to nervous buyers.
The Wall Street Journal reported that futures markets continued to react to headlines from the Middle East, with investors closely watching developments that could reshape the outlook for global oil demand and supply.
Source: Wall Street Journal US Business · Summarized by HeadlinesBriefing