Oil prices declined by approximately 3% at Tuesday's settlement.
Brent crude futures fell by $2.80, or 3%, to settle at $91.45 a barrel. Meanwhile, U.S. West Texas Intermediate (WTI) dropped by $3.10, or 3.4%, to reach $88.20 a barrel.
Brent recorded its lowest closing level since April 17, while WTI hit its lowest point since May 29, as the geopolitical risk premium eased across global markets.
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