Oil prices dropped on Tuesday, with West Texas Intermediate crude settling at $89.77 a barrel and Brent crude at $91.93. The decline marks a move lower for both benchmarks after recent trading sessions.
Benchmark breakdown
WTI, the U.S. benchmark for light sweet crude, fell to $89.77. Brent, the global benchmark sourced from the North Sea, dropped to $91.93. Both grades are closely watched by traders and energy companies.
What's behind the move
The reasons for the drop were not immediately clear. No specific event or data release was cited as a catalyst. The declines come as markets continue to monitor supply and demand dynamics.
