Oil price reverses gains, falls 0.8% despite escalating US-Iran hostilities

AI Summary

Global oil prices declined 0.82% to $84.24 per barrel as investors took profits despite ongoing US-Iran military tensions. The escalating hostilities continue to raise concerns over potential disruptions to international crude oil supplies.

By Obas Esiedesa, Abuja Global oil prices eased by 0.82 per cent to $84.24 per barrel on Wednesday as investors took profits after the previous day’s sharp rally, although renewed military confrontation and escalating rhetoric between the United States and Iran continued to underpin fears of disruptions to global crude supplies. Brent crude, the international benchmark, […] The post Oil price reverses gains, falls 0.8% despite escalating US-Iran hostilities appeared first on Vanguard News.