04/08/2024

Oil Tumbles Nearly 2 Percent as Middle East Tensions Ease

Meanwhile, Saudi Aramco hikes May crude prices for Asia

Oil prices fell more than $1 a barrel on Monday, with Brent sliding under $90, as Middle East tensions eased after Israel withdrew more soldiers from southern Gaza and committed to fresh talks on a potential ceasefire in the six-month conflict.

Brent crude futures slipped $1.70, or 1.9 percent, to $89.47 a barrel by 0053 GMT.

U.S. West Texas Intermediate crude was at $85.29 a barrel, down $1.62, or 1.9 percent.

Please select this link to read the complete article from Reuters.