NEW YORK — Oil prices slid about 2 percent to fresh two-month lows on Tuesday after U.S. officials downplayed the need for additional military action against Iran, easing fears of additional Middle East supply disruptions. Brent futures fell $1.93, or 2.1 percent, to $90.64 a barrel at 10:28 a.m. ET (1528 GMT), while U.S. West Texas Intermediate (WTI) crude fell $1.44, or 1.7 percent, to $85.41. That put both crude benchmarks on track for their lowest closes since August 28. On Monday, both contracts closed at their lowest since August 31. U.S. Secretary of State Marco Rubio said on Tuesday that he told Group of Seven allies that the U.S. economic sanctions and naval blockade are working so well that U.S. President Donald Trump does not need to conduct major combat operations in Iran. Rubio made the comments during a meeting in Paris of foreign ministers from the G7, which comprises Britain, Canada, France, Germany, Italy, Japan and the United States, as well as the European Union. On Monday, Trump said he plans to hold off on new military strikes against Iran for the time being after a
Oil prices hit 2-month lows as US downplays further Iran strikes
In brief
NEW YORK — Oil prices slid about 2 percent to fresh two-month lows on Tuesday after U.S. officials downplayed the need for additional military action against Iran, easing fears of additional Middle East supply disruptions. On Monday, both contracts closed at their lowest since August 31. President Donald Trump does not need to conduct major combat operations in Iran.
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