Daily Times

Crude oil prices fell on Monday following Iran’s attack on Israel at the weekend as traders speculated that the conflict would remain contained.

Brent, the international benchmark for two-thirds of the world’s oil, slipped $0.69 (-0.76 percent) to reach $89.76 a barrel. Similarly, the West Texas Intermediate (WTI), the main oil benchmark for North America, went down by $0.57 (-0.67 percent) to $85.09 a barrel.

On the other hand, the price of Arab Light decreased by $0.61 (-0.67 percent) to reach $90.98 a barrel. Similarly, the price of Russian Sokol decreased by $0.56 (-0.67 percent) to $82.76 a barrel. On the other hand, the price for Opec Basket increased by $0.23 (+0.25 percent) to $90.62 a barrel. Iran fired more than 300 drones and missiles at Israel on Saturday in retaliation for the killing of senior members of the Islamic Revolutionary Guard Corps in an air strike in Syria on April 1. It marked the first direct attack by Tehran on Israel rather than through proxies in Lebanon, Syria and elsewhere.