Oil Prices Slide Amid Ongoing Supply Risks

Oil prices continued to fall on Tuesday, with Brent crude dropping 1.9% to $86.65 and West Texas Intermediate declining 1.5% to $81.36.

The two-day decline has narrowed roughly 60% of the distance between Friday's Brent finish and Goldman Sachs' scenario for full reopening presented last week.

Despite minor declines in crude, major energy stocks showed resilience, with Exxon Mobil Corp. increasing 0.4%, Chevron Corp. advancing 0.8%, and the Energy Select Sector SPDR Fund up 0.3%.

Asset prices reflected a lull that has yet to be matched by a rebound in physical flows, which are still impacted by supply risks in the Strait of Hormuz.