After rising above $90 per barrel recently, oil prices have retreated as geopolitical tensions in the Middle East have subsided. Brent crude futures declined by 0.31% to $88.15 a barrel, while US West Texas Intermediate crude futures saw a 0.46% decrease to $82.98. This partially reversed Brent’s earlier gains, which were supported by a weaker US dollar. In India, crude oil futures traded on the Multi Commodity Exchange (MCX) experienced a 0.49% decline to 6,894 per barrel.
Oil Prices Dip Amidst Calming Middle East Tensions and Slowing Global Activity
