Energy Preview: WTI crude oil futures extend decline near one-week low

Crude oil prices continue to fall further on Tuesday morning in Asia as markets await further developments surrounding the Middle East crisis. WTI oil futures are edging near a one-week low after the US paused its bombing campaign against Iran late on Friday, following roughly two weeks of strikes. The two nations are likely to renew peace talks, which is undermining gains in the counter that is holding at $81.34 per barrel, down 1.5% this morning, Meanwhile, Brent is also down around 1.5% at $87.07 per barrel. The market focus will now shift to the outcome of a two-day FOMC policy meeting. The US central bank is scheduled to announce its decision on Wednesday.

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