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Commodities

Crude Oil Prices Decline Amid Middle East Tensions

Guavy AI Editorial Team
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Oil
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Global crude oil prices have declined in recent days despite rising tensions between the US and Iran.

The price of Brent crude oil, considered a global standard, dropped by $1.29 per barrel to reach $89.45 per barrel.

American West Texas Intermediate crude oil also saw a decrease of 56 cents or 0.66 percent to trade at $83.90 per barrel.

Economists attribute the decline in prices to the normal movement of oil tankers in the Middle East, which suggests that oil supply will not be affected immediately.

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