Brent and WTI decline
Oil prices fell early Friday in Asian markets following a press conference by Israeli Prime Minister Benjamin Netanyahu, who said Iran is being “decimated” and the war could end “faster than expected.”
The price of Brent crude dropped 2.55% to $105.88 per barrel around 03:40 Cyprus time, after reaching nearly $120 the previous day.
Meanwhile, WTI crude fell 2.46% to $93.20 per barrel.
Market reaction
Analyst Steven Innes of SPI Asset Management said the Prime Minister’s statements “calmed” the market, even as the conflict enters its 20th day.
The oil price drop highlights ongoing volatility in energy markets due to geopolitical tensions in the Middle East.
Source: CNA
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