Oil prices experienced a slight decline today, following a rally last week that was driven by escalating tensions in the Middle East and concerns over tight supply levels. The market has been closely monitoring developments in the region, particularly the conflict between Israel and Palestine, which has the potential to disrupt oil supply.
Brent crude, the international benchmark for oil prices, fell by 0.5% to $68.13 a barrel, after gaining nearly 2.5% last week. Similarly, U.S. West Texas Intermediate (WTI) crude dropped 0.7% to $65.37 a barrel, following a 2.1% increase in the previous week.
