Reported about 21 hours ago
Oil prices experienced a decline as concerns over supply disruptions due to US strikes on Iranian nuclear facilities lessened. Brent crude dropped below $77 per barrel after initially spiking, as traders evaluated potential Iranian retaliatory actions which could affect oil flow through the vital Strait of Hormuz. Analysts suggest a one-in-five chance of significant disruptions, projecting crude prices may rise to $120-130 range, potentially leading to higher gasoline prices for consumers.
Source: YAHOO