WTI crude oil prices dropped 2.36% to $95.70 on Tuesday, retreating from recent one-month highs as a potential US-Iran compromise proposal reduced geopolitical risk premiums in the energy market.
WTI crude oil experienced a sharp decline of 2.36%, retreating from a one-month high of over $100 to trade near $95.70. This downward movement is attributed to a cooling of market sentiment following a proposed US-Iran compromise, which has effectively reduced the geopolitical risk premium previously baked into oil prices.
WTI is currently in a downward trend, falling 2.36% to trade around $95.70 after hitting a one-month high.
West Texas Intermediate crude oil prices retreated sharply on Tuesday, shedding 2.36% to trade at $95.70. The decline follows a brief rally to one-month highs above $100, as markets reacted to a potential US-Iran compromise proposal that eased supply concerns.
Prices declined due to a potential US-Iran compromise proposal, which reduced the geopolitical risk premium that had previously pushed oil prices above $100.