Oil prices fell sharply in early Asian trade today, weighed by easing fears of a Middle East war after an Israeli strike against Iran, over the weekend, was less severe than feared.
The strike saw traders price out a risk premium from crude prices, and put focus back squarely on demand, which is expected to weaken in the coming months.
Brent Oil Futures expiring in December fell 4.1% to $72.97 a barrel, while West Texas Intermediate crude futures fell 4.2% to $68.76 a barrel. Both contracts were close to their weakest levels since early-October.
#crudeoil #crudeoilprices #brentcrudeoilprices #cnbctv18 #businessnews #businessnewstoday #businessnewsinenglish #sharemarkettoday
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