WTI crude eases as Iran tensions cool, supply fears recede

WTI crude oil futures edged lower below $59 per barrel in early Asian trading on Monday, paring gains after a four-week advance as easing geopolitical tensions surrounding Iran diminished immediate supply-side anxieties. At the same time, energy markets turned cautious as renewed trade tensions resurfaced, with the announcement of a 10% tariff on goods from eight European countries?potentially rising to 25%?raising concerns over global demand. In domestic trade, MCX crude oil futures for February delivery declined nearly 1% to Rs 5,399 per barrel, while the US dollar index slipped below 99, retreating from recent highs and lending support to safe-haven currencies such as the yen and Swiss franc.

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