09:14 AM EDT, 04/23/2024 (MT Newswires) -- Crude oil prices fell for a second day early on Tuesday as geopolitical risks ease and supply remains robust.

West Texas Intermediate crude for June delivery was last seen down US$0.89 to US$81.01, the lowest in a month, while June Brent crude, the global benchmark, was down US$0.79 to US$86.21.

The drop comes as Middle East tensions ease after Israel offered a moderate retaliation to an Iranian attack earlier this month, with both sides causing little damage, while supply remains adequate amid light spring demand.

"Crude oil is showing signs of stabilizing following a round of funds selling driven by reduced Middle East risks with focus turning to refinery margins and (the) weekly stock report from the EIA," Saxo Bank noted.

Demand from China, the No.1 importer, remains light as the country continues to cope with a debt crisis in its real-estate sector that is cutting growth, while spare production capacity within OPEC+ limits supply concerns, even as the cartel continues with 2.2-million barrels per day of voluntary production cuts.