Oil falls to its lowest level in 3 months amid hopes of ending the Iranian war
Oil prices fell today, Tuesday, to their lowest level in 3 months, following a sharp selling wave yesterday, Monday, while investors awaited more details about the US-Iranian agreement to end the conflict in the Middle East.
Brent crude futures fell by 1.25% to reach 82.13 $a barrel, and West Texas Intermediate US, for delivery in July, fell below $80, recording a decrease of 1.41% to reach $79.67 per barrel.
Oil prices rose slightly overnight before declining, after recording their lowest level since March 4 in the previous session.
This fluctuation reflects the continuing state of uncertainty regarding the terms of the peace agreement agreed upon between the United States and Iran.
The quest to end the war is expected to top the discussions at the G7 kicks off today in France, and more details about the peace agreement are expected to be released later this week.
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