Global oil prices fall over 5% as Middle East tensions ease

London  (Web Desk): Global crude oil prices declined by more than five percent in international markets after a temporary easing of uncertainty following US strikes against Iran.

According to Reuters, Brent crude futures dropped by $5.58 per barrel, bringing the price down to $91.20 per barrel.

Similarly, the price of US crude oil, known as West Texas Intermediate (WTI), decreased by $4.91 per barrel to settle at $84.40 per barrel.

Market analysts said that signs of temporary stability in the Middle East reduced concerns over potential disruptions to global oil supplies, leading to a significant decline in crude prices.

Experts added that investors closely monitored developments in the region, as any escalation could impact energy markets and influence future oil price trends.