Oil Falls; Losses May Be Limited by Lingering Middle East Tensions
·1 min
Oil prices fall in Asian trading due to concerns over Middle East tensions. Market reaction has been limited, as analysts believe neither Iran nor Israel has taken actions to provoke major retaliation. Despite this, the risk of supply disruptions in the Middle East and the possibility of increased sanctions on Iranian and Venezuelan barrels are expected to keep oil prices supported in the short term. WTI crude oil futures are down 0.1% at $83.02/bbl, while Brent crude oil futures are down 0.6% at $86.78/bbl.