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Oil prices slip after signs of easing Gulf tensions
Oil moved above $90 before pulling back as shipping activity in the Gulf dwindled, according to NYT Business.
Oil prices rose above $90 before giving back some gains, with prices later slipping as hopes grew that tensions could be reduced, NYT Business reports.
The pullback also came alongside signs that shipping in the Gulf has dwindled, adding pressure to the market outlook.
Overall, the market remained on edge, balancing optimism for fewer tensions against indicators that trade flow may be weakening in the region.
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NYT BusinessOil Markets on Edge as Shipping Dwindles in Gulf