OIL prices fell in early Asian trade after Iran’s reprisal attack on Israel over the weekend.
Brent crude – a key benchmark for oil prices internationally – was lower but still trading close to $90 a barrel on Monday morning.
Prices had already risen in expectation of action by Iran, with Brent crude nearing a six-month high last week.
Israeli Defence Minister Yoav Gallant has said the confrontation with Iran is “not over yet”.
Energy analyst Vandana Hari said: “Clearly, the oil market does not see the need to factor in any additional supply threat at this point.”
Brent crude may well fall below the $90 mark, but a sizeable pullback is unlikely as traders remain focused on the risks associated with the conflicts in Gaza and Ukraine, she added. – bbc.com