Oil falls over 3% as concerns about Mideast supply ease

Oil slipped more than 1% on Monday as concern eased about the Israel-Hamas war affecting supply from the region and as investors adopted caution ahead of this week’s U.S. Federal Reserve meeting and other indications of global economic health.

Brent crude futures fell $1.29 cents, or 1.4%, to $89.19 a barrel by 1252 GMT, while U.S. West Texas Intermediate crude was down $1.47, or 1.7%, at $84.07.