Oil prices experienced a slight decline on Tuesday after reaching the $80 mark the previous day, which was the highest level for Brent crude in over a month, primarily driven by developments in the Middle East.
In the morning, the price of North Sea Brent crude for December delivery, which had surpassed $80 on Monday, fell by 2.05% to $79.27.
Meanwhile, its American counterpart, West Texas Intermediate (WTI) crude for November delivery, decreased by 2.15%, settling at $75.48.
Experts indicate that concerns regarding oil supply from the Middle East due to the ongoing conflict in the region are affecting market trends. They do not rule out the possibility of a short-term price increase as the conflict persists and its potential repercussions on global supply continue to unfold.
