Oil falls 1% as investors reassess Middle East risks - Reuters:
Oil prices fell almost 1% on Tuesday, surrendering some recent gains as investors reconsidered the likelihood of immediate supply disruptions in the Middle East after the United States killed a top Iranian military commander last week.
Brent crude LCOc1 fell 64 cents, or 0.93%, to settle at $68.27 a barrel. U.S. West Texas Intermediate (WTI) crude CLc1 fell 57 cents, or 0.9%, to settle at $62.70 a barrel.
Prices surged during the previous two sessions on fears of escalating conflict and potential Middle East supply disruptions after a Jan. 3 Baghdad drone strike killed Qassem Soleimani, head of Iran’s elite Quds Force, and Iran vowed revenge. Brent reached its highest since September while WTI rose to its strongest since April.
No comments:
Post a Comment