Oil prices fell as traders assessed fresh U.S. efforts to revive peace negotiations with Iran, while persistent Middle East supply risks and the possibility of renewed military escalation limited losses.
Oil prices rose on market concerns about possible U.S. military escalation against Iran after next week’s midterm elections and renewed threats to Middle East energy supplies after Yemen’s Houthi militants said they targeted Saudi Arabia’s largest oil refinery.
Oil prices fell, with U.S. benchmark crude slipping back under $100 a barrel as traders held out hopes for regional diplomatic efforts to ease Middle East tensions.
Oil prices fell as traders considered diplomatic efforts to ease U.S.-Iran hostilities, while further Houthi attacks on Saudi Arabia kept concerns about Middle East supply risks alive.
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