Oil Prices Slip Marginally As Iran-Israel Conflict Poses Supply Concerns
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Oil prices touched red during trade on Monday, as investors turned cautious after the conflict between Iran and Israel escalated majorly over the weekend. Crude prices slipped marginally by 0.24 per cent in the morning, LSEG data revealed.
Brent future for June delivery declined 0.2 per cent to touch $90.25 per barrel, while West Texas Intermediate (WTI) futures for May delivery fell 0.4 per cent to reach $85.33 per barrel around 8 AM IST, reported Reuters. Notably, Iran launched an attack involving over 300 missiles and drones on Israel on Saturday, while the Israeli government said that the attack caused limited damage.
The conflict, however, raised concerns about the possible escalation of the conflict in a full-blown regional issue through the...