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The Economic Times

National

Oil eases on Middle East diplomacy hopes, Saudi attacks keep supply worries alive

Oil Diplomacy Middle East Saudi Arabia United States Iran Strait of Hormuz

Oil prices edged lower on Tuesday as the potential for a resolution in the US-Israeli war on Iran kept supply fears at bay, but Brent stayed close to six-month highs as attacks on Saudi Arabia lowered hopes of immediate stability in the region.

Brent crude futures were down 66 cents, or 0.57%, at $115.15 a barrel as of 0000 GMT, while US West Texas Intermediate crude was down 44 cents, or 0.43%, at $101.32.

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