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Oil prices fall on risk fears
Oil prices declined during Tuesday's trading due to a market balance between concerns over supply disruptions caused by attacks on Saudi Arabia and security developments, as well as the possibility of an increased Russian fuel supply following a temporary easing of US sanctions on diesel exports. Brent crude dropped by approximately $1.80 to reach $104.85 per barrel, while West Texas Intermediate fell by $1.19 to $92.55, despite earlier gains that brought it to the highest level since September 15. These developments indicate that the price decline does not reduce the risks of supply disruptions, especially given ongoing worries about shipping security and the costs associated with shipping and insurance, which in some cases have exceeded a third of the oil's value. Currently, the market is closely monitoring the impact of political announcements on oil flows, as well as regional security developments and logistical costs.
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