Crude oil prices have begun to ease up after a nearly $4 per barrel spike on Monday following the Hamas attack on Israel and escalating tensions in the Middle East
. The price of Brent crude oil shot up to $88.15 per barrel on Monday before retreating to $87.66 by Tuesday afternoon—but still substantially below the $94.36 per barrel that was witnessed on September 27. WTI prices were also starting to ease on Tuesday, trading at $85.95 -0.51% at 251 pm ET.
Absent any immediate action from the United States to squeeze Iran further or even officially tag Iran for suspected involvement in the attacks, the markets managed to breathe a somewhat shallow sigh of relief, allowing prices to ease—even if only a bit.
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