Oil futures end lower for a third straight session

Oil futures fell on Tuesday to tally a third straight session decline. “After initially pricing in a geopolitical risk premium, the market appears to have sold off direct support tied to the outbreak of conflict between Israel and Hamas,” said Robbie Fraser, manager, Global Research & Analytics, at Schneider Electric. “While the situation remains in focus, the tangible impact on oil market fundamentals remains minimal.” December West Texas Intermediate crude
CLZ23,
-2.20%
fell $1.75, or nearly 2.1%, to settle at $83.74 a barrel on the New York Mercantile Exchange.