An expected attack by Iran on Israel is widely anticipated but has not yet materialized.
U.S. crude oil prices fell more than 1% on Tuesday, as slowing global demand overshadows tensions between Iran and Israel.
World oil demand continues to slow as China's post-pandemic rebound has run its course, according to the IEA. Global demand in the second quarter increased at its slowest pace, 710,000 barrels per day, since the end of 2022, according to the Paris-based agency. U.S. crude rallied more than 4% in the previous session as Israel braced for an expected attack from Iran and the Pentagon accelerated the deployment of a carrier strike group to defend its ally.
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