Oil Falls as Trump Downplays Prospect of Escalation with Iran
Oil prices fell on Tuesday, adding to the previous day's losses after US President Donald Trump downplayed the need for military action against Iran "at this point", easing fears of sustained supply disruptions in the Middle East. Brent crude futures declined 70 cents, or 0.75%, to $91.88 a barrel by 0246 GMT, while US West Texas Intermediate (WTI) futures fell 78 cents, or 0.90%, to $86.07 a barrel. Both benchmarks had fallen 1% earlier in the session. Brent settled down 5.85% in the previous session after sliding to its lowest since August 31.
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