Oil prices retreated Tuesday after briefly surpassing $100 a barrel, as diplomatic hopes for the Middle East conflict emerged. Despite Iran’s strong warnings against regional oil exports, markets are considering US options like easing Russian sanctions and releasing strategic reserves. Analysts anticipate continued volatility, with Gulf producers also cutting output amid shipping disruptions. Oil prices retreated Tuesday after briefly surpassing $100 a barrel, as diplomatic hopes for the Middle East conflict emerged. Despite Iran’s strong warnings against regional oil exports, markets are considering US options like easing Russian sanctions and releasing strategic reserves. Analysts anticipate continued volatility, with Gulf producers also cutting output amid shipping disruptions.
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Crude price slides 6% after touching nearly $120 as Trump signals Iran war may end
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