Oil prices fell slightly Tuesday morning, after hitting their lowest level Monday since early March. The decline was linked to hopes of an end to the Middle East conflict.

Brent crude oil for August delivery fell $0.39 (0.47%), to $82.78 a barrel on the ICE Futures stock exchange in London. Brent crude had fallen $4.16, (4.76%), to $83.17 a barrel on Monday.

WTI oil futures for July delivery fell by $0.17 (0.21%) to $80.58 per barrel in online trading on the New York Mercantile Exchange (NYMEX). In the previous session, they had dropped by $4.13 (4.87%) to $80.75 per barrel.