Energy Preview: WTI crude oil holds around $90 per barrel mark; Awaits clarity on Iran and Israel de-escalation

Crude Oil prices are retreating on Tuesday morning in Asia amid signs of easing supply concerns following an agreement between Iran and Israel to halt mutual attacks. The de-escalation came after an appeal from US President Donald Trump, boosting hopes that peace negotiations could move forward. However, although the ceasefire currently remains intact, the Strait of Hormuz is still effectively closed under a dual blockade by the US and Iran, which is likely to continue to weigh on energy prices. WTI crude oil futures are currently trading lower by 0.73% at $90.61 per barrel. Meanwhile, Brent is also down 0.65% at $93.57 per barrel this morning.

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