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Singapore, June 16 (QNA) – Oil prices fell to their lowest level in three months on Tuesday as markets weighed prospects for a resumption of supplies through the Strait of Hormuz alongside weak physical demand and the lack of details regarding a preliminary deal to end the war in Iran.
By 09:06 GMT, Brent crude futures had dropped by $1.44, or 1.7%, to $81.73 a barrel, their lowest level since March 10.
US West Texas Intermediate crude futures also were down $1.55, or 1.9%, to $79.20 a barrel, also reaching their lowest level since March 10.
Prices had already fallen by about 5% on Monday, settling at their lowest level since March 4. (QNA)
