Oil prices fall amid US-Iran ceasefire mediation
Oil prices fell on Tuesday as markets weighed reports of mediation efforts between the US and Iran against an exchange of attacks between the two countries and threats of a naval blockade of Saudi Arabia by the Houthis. Brent crude oil prices fell by 0.96 dollars or 1.1% to 88.26 dollars per barrel. Geopolitical tensions and negotiations continue to influence global energy markets.