Crude oil prices declined for a second consecutive session on Tuesday after US President Donald Trump indicated that the United States would hold off on further military strikes against Iran for now. Brent crude fell around 0.75% to US$91.88 per barrel, while US West Texas Intermediate (WTI) declined to approximately US$86.07.
Despite the decline, uncertainty remains over energy supplies and shipping activity through the Strait of Hormuz. The United States is maintaining its naval blockade, while reports of attacks on shipping continue to keep geopolitical risks in focus. Any escalation or breakdown in diplomatic efforts could again put pressure on global energy markets.
Reuters
Source: Reuters
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