Oil prices dropped sharply by more than a dollar per barrel during Tuesday's trading, as traders took profits after prices surged to their highest level in over a month during the previous session, amid concerns that the Middle East might be on the brink of war across the region.
Brent crude futures fell by $1.31, or 1.6%, to $79.62 per barrel, while U.S. West Texas Intermediate (WTI) futures dropped by $1.29, or 1.7%, to $75.85 per barrel