Crude futures dropped over 5% on Tuesday as Israel assured the U.S. it does not plan to strike Iran’s oil facilities, easing concerns of a supply disruption in the Middle East. Oil prices soared earlier this month after Iran attacked Israel, but Israel plans to limit retaliatory strikes to military targets. Energy prices as of…
U.S. crude oil prices rose for the second week in a row as tensions between Israel and Iran escalated. The benchmark prices for both U.S. and global crude oil increased by more than 1%. However, maintaining this upward momentum has been challenging without additional factors driving prices higher. U.S. crude oil closed at $75.56 per…
On Tuesday, crude oil futures dropped by about 2% as the market paused its rally based on geopolitical risk, waiting for Israel to potentially retaliate against Iran. Analysts like Tamas Varga from oil broker PVM noted that oil prices can only rise for so long based on perceptions without actual supply disruptions. The surge in…