Brent crude drops to $78.80 as West Asia tensions ease

Oil is a very important fuel that powers cars, planes, and many machines.

The price of oil changes every day because of what is happening in the world.

Recently, the price of oil went down.

This happened because tensions in West Asia are easing, meaning people worry less about oil supplies being blocked.

When people worry less about running out of oil, the price tends to fall.

In New York, Brent crude oil dropped to $78.80 per barrel.

Another kind of oil, called West Texas Intermediate, fell to $75.06 per barrel.

In India, oil futures on the Multi Commodity Exchange went down by Rs 52 to Rs 7,162 per barrel.

Traders sold oil because calmer geopolitics made supply worries seem less important.