Oil prices fall as traders weigh Russian supply and Mideast attacks
In short
Brent crude fell 61 cents to $105 a barrel, and US WTI fell 92 cents to $93 a barrel. Brent had closed at $106.65 on Monday, its highest since September 15.
This matters because oil prices have already jumped more than 70% this year. Traders are still watching Russian supply and attacks in the Middle East, so the next move is not clear.
What the reporting says
Brent crude futures fell 61 cents to $105 a barrel and US West Texas Intermediate crude futures fell 92 cents to $93 a barrel, according to the publisher summary. Brent had settled at $106.65 on Monday, its highest since September 15, after a year in which oil prices surged more than 70% amid the US war on Iran. The immediate consequence is a pullback in prices, while the next move depends on Russian supply and Middle East developments.
Why it matters
Brent crude futures fell 61 cents to $105 a barrel and West Texas Intermediate fell 92 cents to $93 a barrel in the publisher summary. Brent had settled at $106.65 on Monday, its highest level since September 15, after oil prices rose more than 70% this year. The move is relevant for energy markets, but the reporting does not say how long the decline will last or how supply risks will evolve.