Crude Oil prices fell $2 in early Asian trade on Tuesday, as OPEC lowered its outlook for global oil demand growth in 2024 and 2025 and a media report said Israel is prepared to strike Iranian military bases, not nuclear or oil targets.
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Brent crude futures were down $2.11, or 2.7%, at $75.35 a barrel, while U.S. West Texas Intermediate crude futures fell $2.07, or 2.8%, to $73.76 a barrel by 0045 GMT. Both benchmarks had closed about 2% lower on Monday.
Israeli Prime Minister Benjamin Netanyahu told the United States that Israel is prepared to strike Iranian military bases, not nuclear or oil targets, the report said.