Oil Prices Drop as Israel-Iran Tensions Ease, China Cuts Imports

Oil Pares Losses After Trump Says US ‘Must Respond’ to Attack

Oil prices declined as military tensions between Israel and Iran eased following attacks, while China reduced its import purchases. The combination of decreased geopolitical risk and lower demand from a major economy weighed on crude markets. These two factors—improved regional stability and reduced Chinese buying—contributed to the downward pressure on oil prices.