Oil prices recorded another decline on Tuesday, falling by around 0.86% as futures contracts for both major crude benchmarks moved lower in global markets.
Brent crude futures dropped by $1 per barrel to $114.81, while U.S. West Texas Intermediate (WTI) crude fell by 88 cents to $100.88 per barrel. Both benchmarks had registered similar losses earlier in the session.
The decline follows a surge in Brent prices above $117 per barrel last week, marking their highest levels since April, before prices approached that threshold again during Monday’s trading.
