India, Sept. 3 -- Oil prices fall slightly after a sharp and volatile session as traders assessed the latest US-Iran military escalation and its impact on global energy supplies. Brent crude futures fell 59 cents, or 0.62%, to $95.04 a barrel, while US West Texas Intermediate (WTI) crude declined 38 cents, or 0.42%, to $90.63.

The modest decline came even as concerns around the Strait of Hormuz intensified. The crucial waterway has seen significantly reduced shipping activity since the war escalated, while Iran has expanded restrictions on vessels attempting to transit the strait.

At the same time, attacks involving commercial tankers have added another layer of uncertainty for oil traders and shipping companies.

US-Israel-Iran War Liv...