Commodities
Oil Falls After Iran Says It’s Prepared to Ease Israel Tensions
- Overture comes after days of strikes between Israel, Hezbollah
- China plans economic briefing after cutting short-term rate
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Oil fell on a weak outlook for fuel demand and the potential for the conflict between Iran and Israel to de-escalate after its recent flare-up.
West Texas Intermediate slipped almost 1% to settle below $71 a barrel while Brent retreated to settle below $74 a barrel. WTI had gained 4.8% last week in its biggest weekly jump since February.