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flag Oil prices dipped Tuesday amid global sell-offs and fears of oversupply, despite ongoing geopolitical tensions.

flag Oil prices fell slightly on Tuesday as Brent crude and U.S. West Texas Intermediate dropped about 0.3%, reversing some of Monday’s gains fueled by Russia-Ukraine tensions after Moscow accused Ukraine of targeting President Putin’s residence. flag The decline followed a broader commodity sell-off, particularly in precious metals, and came amid ongoing concerns over global supply, including Saudi Arabia’s expected third consecutive monthly price cut for February crude exports to Asia. flag Analysts warn of a potential oil glut and expect prices to trend lower into early 2026 despite geopolitical risks in Eastern Europe and the Middle East.

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