Crude oil falls after Saudi pledge, investors keep wary eye on Israel
Oil prices fell over 2% on Wednesday as fears of disruption to supplies due to conflict in the Middle East receded a day after top OPEC producer Saudi Arabia pledged to help stabilise the market.
Brent futures fell $2.10, or 2.4%, to $85.55 a barrel by 10:41 a.m. EDT (1441 GMT). U.S. West Texas Intermediate (WTI) crude fell $2.55, or 3.0%, to $83.42.
Brent and WTI had surged more than $3.50 on Monday on concern the clashes between Israel and Palestinian Islamist group Hamas could escalate into a broader conflict that could disrupt global oil supply.
