Brent crude fell more than 3% to below $102 a barrel on Tuesday, sliding toward a four-week low and extending Monday’s 7.6% plunge. Prices gave up earlier gains after President Donald Trump announced that Washington would end its financial support for Israel by the end of the year, following an agreement with Prime Minister Benjamin Netanyahu to phase out the $4 billion aid program. Trump said Israel no longer required the assistance, though the US would remain prepared to provide other forms of support.
At the same time, US Energy Secretary Chris Wright said overnight attacks on Iran’s Qeshm Island had not disrupted oil flows, adding that additional refined products would be supplied from the Persian Gulf and India. Separately, Iran signaled a more flexible diplomatic stance, with President Masoud Pezeshkian stating that Supreme Leader Mojtaba Khamenei had authorized negotiations on issues previously deemed off-limits.
