Oil futures end lower for a third straight session

Oil futures fell on Tuesday to tally a third straight session decline.

“After initially pricing in a geopolitical risk premium, the market appears to have sold off direct support tied to the outbreak of conflict between Israel and Hamas,” said Robbie Fraser, manager, Global Research & Analytics, at Schneider Electric. “While the situation remains in focus, the tangible impact on oil market fundamentals remains minimal.” December West Texas Intermediate crude CLZ23, -1.99% fell $1.75, or nearly 2.1%, to settle at $83.

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