Oil Prices Dip as Middle East Tensions Ease | Detroit News

Oil prices dipped as U.S. and Iran paused military strikes in the Persian Gulf, easing fears of a Middle East war disrupting global supply. Gas prices in the U.S. hover just over $4 a gallon, down from a July spike that pushed Brent crude to $102 a barrel — its highest since May. Analysts warn sustained price hikes could ripple through the economy, raising costs for everything from groceries to shipped goods. Traders are watching October Brent crude, which fell 4.6% after a prior drop, as geopolitical tensions continue to shift the market’s direction. Listen in comfort:Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/67c617d7f449e38a