Oil prices retreat for a second day amid a firmer USD, though geopolitical tensions curb further declines near $84.00.
West Texas Intermediate crude oil falls below $84.00 in early European trading, extending losses for a second consecutive session. The decline follows an intraday high near $85.35, driven by a stronger USD pressuring commodity prices.
Prices had briefly recovered from earlier lows but failed to sustain momentum as the greenback gained ground. Geopolitical tensions between the US and Iran provide some support, limiting deeper losses in the oil market.
No immediate market reaction data was provided, though the downward pressure reflects broader macroeconomic trends influencing energy commodities.