Oil prices drop amid demand worries, but US-Iran tensions support
Updated : June 25, 2019 09:21 AM IST
Benchmark Brent crude futures were down 57 cents, or 0.9 percent, at $64.29 a barrel by 0342 GMT. They dropped 0.5 percent on Monday.
US crude futures were down 58 cents, or 1 percent, at $57.32 a barrel. The US benchmark rose 0.8 percent in the previous session.
Brent climbed 5 percent last week and US crude surged 10 percent after Iran shot down a US drone on Thursday in the Gulf, adding to tensions stoked by attacks on oil tankers in the area in May and June. Washington has blamed the tanker attacks on Iran, which denies having any role.
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