Following the decline in geopolitical tensions, oil prices decline

Oil prices fell below $90 per barrel, after Israel said it would withdraw some of its forces from the Gaza Strip, at a time when prices have recently faced technical resistance with signs of easing geopolitical tensions emerging.

Brent crude, the global benchmark, rose to its highest level in five months last week, due to escalating tensions in the Middle East and supply shocks, which increases the possibility of global benchmark crude reaching triple digits. (Bloomberg)