Explained - Two key reasons why US market cut their losses on Tuesday

A key factor behind the recovery on Wall Street was the drop in crude oil prices, with Brent crude falling towards levels of $103 a barrel. While expiry related factors are at play, but JPMorgan in its note said that Crude exports from West Asia have reached 98% of pre-war levels at 17.5 million barrels a day, indicating that the supply side fears are easing.