Commodities
Oil Prices Slide Despite Escalating Middle East Tensions
Oil prices dropped on July 30 despite escalating tensions in the Persian Gulf. According to Reuters, investors focused on supply flows through key chokepoints in the region.
Brent crude futures fell by $0.96 (1.06%) to $89.78 per barrel, while US West Texas Intermediate (WTI) crude dropped by $0.64 (0.76%) to $83.82 per barrel.
The decline follows a surge in oil prices on July 29 after US President Donald Trump threatened to launch a 'very strong strike' against Iran following an Iranian missile attack on Tuesday against a US base in Jordan.