Oil Prices Dip Amid US-Iran Ceasefire Hopes

Oil prices went down a bit on Tuesday.

This happened because people who invest in oil were thinking about two things.

First, there might be a temporary truce between the United States and Iran, which could make the situation in the Middle East a bit calmer.

This truce is linked to an agreement made in June.

Second, there are still some military actions happening, like the US hitting Iranian targets and Iran hitting back.

This makes people worried about the oil supply.

So, even though there's hope for peace, the fear of more fighting keeps the oil prices from dropping too much.