Crude oil falls 1.53% in delayed data while reports differ on the cause

Crude oil fell, with the front-month WTI (West Texas Intermediate, a US crude benchmark) price down 1.53% in delayed data (not live). The quote was $100.2 per barrel against a previous close of $101.76, the price when trading ended the day before.

Reports differ on the cause. Some reports cite easing inflation concerns (worries about rising prices across the economy), while others point to fears that conflict in the Middle East may escalate.

One report says oil prices fell after Iran's supreme leader and a top security official discussed conditions to end a war. Another report describes a broad rally (a widespread rise) in US equity markets (markets for company shares).

The reports do not say what happens next.