Reported about 3 hours ago
Oil prices fell by 5% as reports indicated that Israel would not target Iranian oil production amid escalating tensions. The International Energy Agency's forecast of a potential surplus in oil supply also contributed to the decline, with West Texas Intermediate crude nearing $70 per barrel and Brent crude dipping below $74. Concerns about slowing demand growth from China further compounded the bearish outlook for oil markets.
Source: YAHOO