Reported 30 days ago
Oil prices fell over 6%, marking their largest single-day decline in more than two years, as Israel's retaliatory strikes against Iran did not target its petroleum facilities. West Texas Intermediate futures settled at $67.38 per barrel, while Brent closed at $71.42. The market had been volatile leading up to the attack, which aimed at Iranian military sites in response to previous missile strikes. Analysts suggest that the recent military actions are unlikely to lead to a significant escalation of tensions affecting oil supply, prompting a downward adjustment in Brent price forecasts.
Source: YAHOO