Oil prices are falling as investors wait to see if Israel will retaliate to Iran’s attack. West Texas Intermediate (WTI), traded in New York, fell 0.52% to 84.91 dollars a barrel, while North Sea Brent, the benchmark for European imports, fell 0.4% to 89.66 dollars a barrel.
Israel has said that it will respond to Tehran’s attack, despite calls from the West and Middle Eastern countries for restraint, but has not released any details about the type of retaliation that might be involved.
“Tensions are expected to remain contained, avoiding a wider conflict that could cause shortfalls in oil supplies,” said Han Zhong Liang, an analyst at Standard Chartered, speaking to Bloomberg.
