Episode Details

Oil prices eased on Monday as tensions between Israel and Iran showed signs of de-escalation, alleviating concerns over Middle East supply disruptions. Brent crude futures dipped by 79 cents, or 0.9%, to settle at $86.50 per barrel, while WTI crude fell by 65 cents, or 0.8%, to $82.49. The decline came after both benchmarks had earlier dropped more than 1%. The recent conflict began when Israel struck Iran on Friday, retaliating for missile attacks. However, both nations have since indicated a desire to avoid further confrontations. A stronger dollar and cooling US business activity also contributed to the price drop. Markets remain vigilant, monitoring Middle East developments and upcoming economic reports.

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