Oil falls more despite downing of US helicopter

Crude oil prices took a nearly 3% drop again on Tuesday even after a U.S. helicopter was brought down by Iran and the crew members were rescued.

President Trump promised retaliation, but prices dropped on easing tensions in the Middle East.

Brent crude, the global benchmark, fell 2.9% or nearly $2.50 to $91.49 a barrel.

West Texas Intermediate, the U.S. standard set at the Cushing Hub in Oklahoma, dropped about $2.80 or 3.4% to settle at $88.18 a barrel on the New York Mercantile Exchange.

As of Tuesday, despite President Trump’s promise of a U.S. response to the shootdown of the U.S. Apache helicopter, no military action had been reported. The two pilots were safely rescued.

Natural gas prices also responded with a decline, settling at $3.134 MMBtu with a decline of $0.013 or 0.41%.

Most Oklahoma energy stocks closed the day with losses including more than 9% for Stardust Power, 6% for USA Rare Earth, and 4% for Mammoth Energy Services.