Brent crude slides on easing geopolitical tensions and improved supply outlook.
Image: Scripps News
Global oil prices fell sharply on Tuesday, dropping to their lowest level in three months.
Brent crude futures declined by $4.25, or 5.1%, to $78.92 per barrel.
The fall reflects easing geopolitical tensions and expectations of improved supply stability in global markets.
Traders say sentiment has been affected by developments in diplomatic talks involving major oil-producing regions.
The decline adds pressure on energy markets already responding to shifting demand forecasts.
Analysts say prices may remain volatile as investors track further progress in global negotiations and supply conditions.
