Oil prices fell 1% in early Asian trade on April 8 as tensions eased in the Middle East after Israel withdrew more troops from southern Gaza and engaged in new talks on a potential end to the six-month conflict.
Brent crude futures were down 94 cents, or 1%, at $90.23 a barrel by 2253 GMT, after hitting a session low of $90.01.
U.S. West Texas Intermediate crude was trading at $86.01 a barrel, up 90 cents, or 1%, after falling to $85.80.
Israel and Hamas sent teams to Egypt for new talks on a potential ceasefire ahead of the Eid al-Adha holiday, easing tensions in the Middle East that sent oil prices up more than 4% last week on fears of supply disruptions .
Israeli Defense Minister Yoav Galant said on Sunday that Israel is ready to deal with any scenario that may arise with Iran after Tehran threatened to retaliate for the killing of Iranian generals on April 1.
The world's top exporter, Saudi Arabia, raised official selling prices for all grades of crude to Asia in line with expectations.
Last week, US oil rigs rose by two to 508, while gas rigs fell by two to 110, their lowest level since January 2022, Baker Hughes reported./BGNES
