Oil falls amid Middle East attacks
Oil prices have decreased for the second consecutive day due to expectations of a potential settlement in the U.S.-Iran crisis, following the halt of airstrikes between the two sides. Brent crude oil recorded $86.89 per barrel, the lowest level since July, while West Texas Intermediate fell to $81.16, also the lowest since the same month. The cessation of Houthi attacks on Saudi Arabia and the resumption of oil loading operations in the Caspian Sea have helped calm the market, although the risks of tensions in the Red Sea remain, especially after Saudi Arabia announced the interception of drones launched from Iraq by Iran-backed groups.
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