Oil prices dropped $2 in early Asian trading on Tuesday after OPEC revised its forecast for global oil demand growth in 2024 and 2025. Additionally, reports surfaced that Israel is prepared to target Iranian military sites rather than nuclear or oil facilities.
As of 0045 GMT, Brent crude futures were down $2.11, or 2.7%, at $75.35 per barrel, while U.S. West Texas Intermediate crude futures fell $2.07, or 2.8%, to $73.76 per barrel. Both benchmarks had closed approximately 2% lower on Monday.
