Oil prices lower after Iran attack on Israel - BBC News

Prices had already risen in expectation of action, with Brent crude near a six-month high last week.

3 days agoShareclose panelShare pageCopy linkAbout sharingRelated TopicsIsrael-Gaza warImage source, Getty ImagesBy Michael Race, Peter Hoskins & Nick EdserBusiness reporters, BBC NewsOil prices fell on Monday after Iran's reprisal attack on Israel over the weekend.

Brent crude - a key benchmark for oil prices internationally - was lower but still trading close to $90 a barrel.

Prices had already risen in expectation of action by Iran, with Brent crude nearing a six-month high last week.

Analysts said the markets would be looking to see how the conflict could affect global supply chains.

Oil price fluctuations can cause ripple effects across the world due to countries being heavily reliant on the commodity, which is used to produce fuels such as petrol and diesel. Fuel and energy prices have been a major driver behind the higher cost of living worldwide in the past couple of years.

https://www.bbc.co.uk/news/business-68812949

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