Oil Prices Fall to Two-Month Lows on Iran Outlook
Oil prices dropped to a two-month low as the United States downplayed the need for further military action against Iran. Markets also weighed potential peace talks between Russia and Ukraine alongside expectations of a US Federal Reserve interest rate hike.
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Brent Crude Oil fell 88 cents to $91.69 a barrel on Tuesday afternoon after United States officials downplayed the need for further military action against Iran. The drop puts both major crude benchmarks on track for their lowest closes since August 31. The pullback eases immediate fears of supply disruptions in the Middle East, though geopolitical tensions remain elevated.
