Oil Prices Decline Amid Ongoing Middle East Tensions

Oil prices declined by $3.02 to $97.67 per barrel as Brent crude, the international standard, despite concerns over a deepening crisis in the Middle East and worries over an artificial intelligence bubble.

The attacks on two Saudi oil tankers in the Red Sea have threatened another avenue that oil companies use to move their crude from the Middle East to customers worldwide, along with the Strait of Hormuz.

The U.S. benchmark crude slipped $2.43 to $89.76 per barrel, but both standards are up more than 10% this week.