Oil falls for third day amid eased supply worries
Oil prices have declined for three consecutive days due to easing supply concerns, as investors await diplomatic moves that could impact the U.S. war with Iran. Brent crude has dropped below $104 per barrel, while West Texas Intermediate has fallen to around $101, amid expectations of renewed oil flows through Saudi Arabia's East-West pipeline and increased shipping via the Strait of Hormuz despite ongoing tensions. Additionally, the likelihood of escalation in military actions against Iran by the United States has been rising. In terms of the market, prices remain above $100 despite the recent decline, with geopolitical tensions continuing to influence global supplies.
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