Oil prices tumbled to the lowest in more than three months on Tuesday, reversing all gains made since Hamas attacked Israel on October 7, with hedge funds betting that the conflict will not draw in oil-rich neighbouring countries.
Brent crude, the international benchmark, settled 4.2 per cent lower at $81.61 a barrel, dropping back to levels last seen in late July and more than wiping out the rally that began in early October. The US benchmark West Texas Intermediate fell 4.3 per cent to $77.37 a barrel.
Hamas’s attacks and Israel’s subsequent declaration of war sparked fears of a wider conflict that could hit the Middle East’s oil and gas supplies, pushing prices up more than 10 per cent to almost $93 a barrel by the middle of last month.
您已阅读22%（747字），剩余78%（2635字）包含更多重要信息，订阅以继续探索完整内容，并享受更多专属服务。