Brent futures for June delivery fell 26 cents to $89.84 a barrel by 0935 GMT, while U.S. crude for May slipped 20 cents to $85.21
Oil edged lower on Tuesday as easing concern about supply risks and a rapidly escalating conflict after Iran ’s weekend attack on Israel offset data showing China’s economy grew faster than expected in the first quarter.
Brent futures for June delivery fell 26 cents, or 0.3 per cent, to $89.84 a barrel by 0935 GMT. U.S. crude for May slipped 20 cents, or 0.2 per cent, to $85.21. “Material disruption to oil production, supply or shipping must take place to approach the $100 a barrel milestone. Currently such a development appears implausible.”
Prices, though, fell on Monday after Iran’s attack on Israel proved to be less damaging than anticipated, easing concerns of a quickly intensifying conflict that could disrupt supply.
Energy Cent Oil Iran Israel Conflict Supply United States Concern Rystad Energy Petroleum Exporting Countries OPEC
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