Oil costs stopped their recent production, subsiding in Asian trading and exchanging on Tuesday after surging more than 7% in the past three sessions on supply concerns incited by fears of a wider Middle East strife and the shutdown of Libyan oil fields.

Oil markets are retracing after sharp gains in the past three sessions driven by desires for U.S. interest rate cuts that might boost fuel requests, military attacks between Israel and Hezbollah in Lebanon over the end of the week that could debilitate a wider Middle East struggle possibly disturbing supply from the key producing region and the Libyan closures.

Over that period, WTI picked up 7.6% and Brent picked up 7%. Brent crude futures closed $2.41, or 3.05%, at $81.43 a barrel, whereas U.S. crude futures settled $2.59, or 3.5%, higher at $77.42 a barrel. Both benchmarks had picked up more than 2% on Friday.

Libya’s eastern-based government reported the closure of all oil areas on Monday, pausing generation, production and exports. National Oil Corp, which controls the country’s oil assets, given no confirmation.

However, NOC subordinate Waha Oil Company said it arranged to decrease production and cautioned a total end to Libya’s generation, citing unspecified “protests and pressures”.

Libya’s Sirte Oil Company, another NOC subordinate company, said it will begin a partial decrease in production.

An oil tanker has been on fire in the Red Sea since August 23 after an attack by Yemen’s Houthis, EU Red Sea Naval mission Aspides said in a post on X.

Meanwhile, unrefined crude oil refineries at Cushing, the estimating point for U.S. crude oil futures, have fallen to six-month lows.

“Most oil forecasters expect 2025 oil demand growth to hover around 1 million b/d. Were Libya to go down in another bout of civil war, the balances of 2025 could look very similar to this year’s despite more Saudi and Russian production,” Viktor Katona, lead crude analyst at Kpler, added.