Oil extends losses as a pause in U.S.-Iran hostilities raises de-escalation hopes
馃摪 source: cnbc_topnews 路 馃捈 business
oil prices extended losses tuesday after a pause in u.s.-iran hostilities raised hopes for de-escalation. brent crude fell over 1% to $87.24 a barrel, wti dropped 1.22% to $81.6. tehran denied agreeing to a 10-day ceasefire but a temporary pause held, following reports of diminished u.s. munitions. trump dismissed shortage concerns, saying the military had 'plenty.' commonwealth bank of australia said the decline reflects easing escalation fears but warned risks remain, especially over the strait of hormuz.
why it matters: oil falls on pause in us-iran hostilities but supply risks linger over hormuz strait
source: cnbc_topnews
sentiment: +0.10 路 impact: 0.65