Oil prices dip as easing geopolitical risks weigh on market

Oil prices declined on the morning of February 3, as investors turned their attention to easing geopolitical tensions, fueling expectations of a surplus in global crude supplies, according to trading data.

April futures for Brent crude slipped 0.39% from the previous close to $66.04 per barrel. Meanwhile, March futures for WTI crude fell 0.35% to $61.92 per barrel.

Market participants continue to closely monitor geopolitical developments, particularly relations between the United States and Iran.

Earlier on Tuesday, speaking at a ceremony at the White House, US President Donald Trump said he would like to reach a deal with Iran, comments that added to perceptions of reduced geopolitical risk in oil markets.

Stabil.Az