On Friday, oil prices rose to their highest level since autumn 2023 due to fears of a war between Israel and Iran. picture alliance / Xinhua News Agency | Chen Junqing
Oil prices fell slightly on Monday despite Iran’s attack on Israel. A barrel of Brent cost 90.09 US dollars (84.53 euros), while West Texas Intermediate was 85.22 dollars (79.96 euros). The situation in the Middle East could not escalate further if the Israeli government followed the US government’s advice and refrained from retaliatory measures, according to an analysis by raw materials experts.
Despite the Iranian attack on Israel, oil prices fell slightly on Monday. A barrel of North Sea Brent for delivery in June cost 90.09 US dollars (84.53 euros) in the morning, 36 cents less than on Friday. The price for barrels of US West Texas Intermediate (WTI) for delivery in May fell 44 cents to $85.22 (79.96 euros).
On Friday, oil prices rose to their highest level since autumn 2023 due to fears of a war between Israel and Iran. Crude oil from the North Sea Brent variety temporarily cost more than 92 dollars (86.32 euros). Iran attacked Israel on Monday night with around 300 rockets, drones and cruise missiles, but according to Israeli information, almost all of them were intercepted. According to media reports, the Israeli leadership has not yet decided how it will respond to the Iranian attack.
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Most drones and cruise missiles were intercepted. picture alliance/dpa/dpa Graphic | dpa-infografik GmbH
The oil market pointed out that the US had called on the Israeli government to carefully consider a possible attack on Iran and its consequences and had pointed out the risks of escalation. The situation in the Middle East could not escalate further if the Israeli government follows the US government’s advice and refrains from retaliatory measures, according to an analysis by commodity experts at investment bank RBC Capital Markets.
AA/dpa