Oil prices drop after Israel's limited strikes on Iran

Oil prices fell by more than 5%, below $73 per barrel, after Israel's Saturday strike against Iran spared the country's oil installations, media reports.

News ID: 2000230

EghtesadOnline: The price of December futures for Brent crude oil on the London Intercontinental Exchange fell below $73 per barrel (at auction on Friday, October 25, it was about $75); and for WTI oil, it registered at $68 for November.

Prices rose after Iran's massive missile operation on Israel on October 1, where the cost of Brent reached $80. However, in the first week of the month, they began to fall amid the understanding that Israel would take limited retaliatory measures in order to avert a larger conflict, the Times of Israel writes.

Oil prices at the beginning of the week fell by more than 5%, below $73 per barrel, after Israel's strike against Iran, Bloomberg reports. / Mehr