Oil Prices Fall As Iran And Pakistan Discuss Mediation
Oil prices retreated from five month highs on Tuesday as traders weighed diplomatic mediation efforts between Iran and Pakistan against ongoing regional security risks. Brent crude settled down 76 cents to 108.79 dollars while US crude also declined.
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Brent Crude Oil fell 76 cents to $108.79 per barrel on Tuesday after touching a five-month high, as traders monitored diplomatic talks involving Iran and Pakistan alongside ongoing Middle East supply disruptions. The front-month contract had earlier reached $111.99, while West Texas Oil settled down $1.87 at $101.79. The retreat follows renewed regional tensions that have kept energy markets volatile and prices above the $100 threshold.
