SINGAPORE: Oil tumbled more than 3% on Wednesday, reversing earlier gains as persistent Middle East volatility unnerved markets even amid reports the U.S.-Israeli war with Iran could be winding down.

The front-month Brent contract for June fell$3.33, or 3.2%, to $100.64 per barrel at 0641 GMT. U.S. West Texas Intermediate (WTI) crude futures for May slipped$3.34, or 3.3%, to $98.04 per barrel.