• Oil held a modest decline as the risk of a significant escalation of hostilities between Israel and Iran eased following a tit-for-tat exchange of attacks last week.
  • West Texas Intermediate traded near $82 a barrel after closing 0.4% lower on Monday. Brent settled at $87. Israel is returning to its goals of eliminating what it says is the last remaining stronghold of Hamas in Gaza and of freeing the remaining hostages, which will keep tensions elevated in the region.