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Oil prices witnessed little change on Tuesday, with investors focusing on geopolitical tensions in the Middle East and optimism that the Federal Reserve (the US central bank) will soon begin lowering interest rates, which will contribute to higher global economic growth and boost demand.
Brent crude futures fell 26 cents, or 0.3%, to $79.13 per barrel, while the price of US West Texas Intermediate crude reached $73.59 per barrel, up by three cents.
Both benchmarks gained about 3% last week after attacks on ships disrupted global shipping and trade, raising tensions in the Middle East as the conflict in Gaza continues.
Source: Arabic