Oil prices were lower today ending a multi session rally as tensions may be cooling in the Middle East. Israel is reducing its troop count in the Gaza strip and the US is leaning into ceasefire talks. However Tehran is still threatening revenge against Israel and the US so the conflict could still broaden. Among factors affecting oil’s demand outlook, a U.S. employment report on Friday suggested the economy ended the first quarter on solid ground, which could prompt the Federal Reserve to delay interest rate cuts. Investors will scour consumer price index data from the U.S. and China this week for further clues on economic health of the world’s top two oil consumers. WTI traded down $.48 or -.6% to close at $86.43 Brent traded down $.79 or .9% to close at $90.38.