Oil: US barrel price falls 5% amid hopes for de-escalation in the Middle East

Oil prices accelerated their decline on Tuesday, as the market seemed to believe in a de-escalation of the Middle East conflict following statements by Donald Trump interpreted as such and ahead of talks between Lebanon and Israel.

Around 2:15 PM GMT (4:15 PM in Paris), the price of West Texas Intermediate (WTI) crude for May delivery fell 6.20% to $92.94 a barrel, and the price of Brent crude, the international benchmark, for June delivery, was down 3.77% at $95.61 a barrel.