Oil prices dip as Mideast tensions ease; market eyes trade deal

SINGAPORE - Oil prices edged lower on Tuesday as receding Middle East tensions took some heat out of the market, with both Tehran and Washington desisting from any further escalation after this month’s clashes.

Brent crude was down 8 cents, or 0.1%, at $64.12 per barrel by 0124 GMT. U.S. West Texas Intermediate crude futures were down 4 cents, or 0.1%, at $58.04 a barrel. The poll was conducted ahead of reports from the American Petroleum Institute , an industry group, and the Energy Information Administration , an agency of the U.S. Department of Energy.

Elsewhere, Saudi Arabia’s energy minister Prince Abdulaziz bin Salman said his country will work for oil market stability at a time of heightened U.S.-Iranian tension and wants to see sustainable prices and demand growth.

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

China Wants To Save Iran Nuclear Deal As It Leaves Their Oil Market BehindChina criticized Trump for killing Kassam Soleimani, Iran's top military general. But it has one thing in common with Washington that is key to Beijing's support. 11 Jan. - Guantánamo - more prisoners have died there than been convicted - Fires Threaten Australian Towns That Have Already Burned Once - Women now dominate the US workforce [for the second time in history] Fossil fuel economy. Fossil fuel economy.
Source: Forbes - 🏆 394. / 53 Read more »

Oil: What is the Strait of Hormuz, how does it tie into Iran tensions? - Business InsiderHow the Strait of Hormuz, a narrow stretch of water where ships carry $1.2 billion of oil every day, is at the heart of spiraling tensions with Iran AIS marine tracker doesn't show military ships, does it? It would be even more then Only for the last 40 years. postoiltechnology postoiltech 🤣
Source: BusinessInsider - 🏆 729. / 51 Read more »