[IsraelTimes] Oil prices are tumbling with the opening of trading in Asia as dealers breathe a sigh of relief that Israel’s Saturday strikes on military targets in Iran spared the country’s oil installations.
The price of North Sea Brent for delivery in December fell by 4.02 percent, to $72.99, while West Texas Intermediate plunges by 4.17% to $68.79.
Oil prices rose sharply following Iran’s October 1 ballistic missile attack on Israel, but they had already begun to fall after peaking on October 7 as it became clear Israel would likely restrict its reprisal to avoid sparking a wider conflagration.
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