Oil falls on easing fears of wider Mideast war

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The story "Oil falls on easing fears of wider Mideast war" was covered 4 hours ago by The Star, a news publisher based in Malaysia.

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The Star 4h ago

Oil falls on easing fears of wider Mideast war - The Star

Quick Summary:

Brent and US crude oil futures fell on Tuesday as traders grew less nervous about the potential for a wider war in the Middle East, with Iran yet to act on threats to retaliate on Israel for assassination of a Hamas official in Tehran.

The US has prepared for what could be significant attacks by Iran or its proxies in the region as soon as this week, White House national security spokesperson John Kirby said on Monday.

Also on Monday, the Organization of the Petroleum Exporting Countries cut expected demand in 2024 even though the group and its allies, known as Opec+, aim to raise output from October.