$97.83 Oil: Prices Drop Amid Middle East Tensions

Oil prices dipped below $100 a barrel but are on track for a weekly rise due to escalating tensions in the Middle East.

The price of oil fell by 1.4% on Tuesday, settling at $97.83 per barrel, according to data from The Globe and Mail's commodity tracking system.

This decline comes as international tensions have increased following recent events in the region, leading investors to speculate about potential disruptions to global oil supplies.

Despite the current dip, oil prices are still poised for a weekly gain of 4.3% due to the ongoing instability in the Middle East.