Oil prices have fallen by 2% from the weekend as investors bet on a delay to Israel’s ground invasion of Gaza.
Brent Crude prices dropped to as low as $91.11, down from $92.51 yesterday.
They climbed to nearly as high as $94 last week.
Israel has held off on its attacks with diplomatic negotiations ongoing to secure the release of more hostages.
Since the outbreak of the Israel-Hamas conflict on October 7, prices have risen by about $8 amid fears of escalating conflict threatening regional oil supplies.
Supplies have yet to be affected but fears remain that exports could be disrupted.
FTSE 100
The UK's top share index, the FTSE 100, was down 15-points at 7,386, shortly after opening this morning.
Brent crude futures were down 0.93% this morning at $91.30 a barrel.
Companies reporting today
No companies are reporting today.