Oil edges down as investors watch Red Sea developments
Oil prices slipped on Wednesday, eating into the previous day’s gains as investors monitored developments in the Red Sea, where shippers are returning despite further attacks on Tuesday.
Brent crude futures were down 54 cents, or 0.6%, at $80.53 a barrel by 1445 GMT. U.S. West Texas Intermediate crude fell 65 cents, or 0.8%, to $74.92.
