Brent Crude Drops Below $70 Amid US-Iran Tensions
Brent crude oil prices fell below $70 a barrel on Monday for the first time since the recent escalation between Israel and Iran, CE Report quotes Anadolu Agency
The drop followed Iran's missile strike on the Al Udeid Air Base in Qatar, launched in retaliation for U.S. attacks on three Iranian nuclear sites over the weekend. No casualties were reported.
U.S. President Donald Trump said Iran had given advance warning, which helped avoid any injuries. He expressed hope for regional peace, urging both Iran and Israel to de-escalate.
Brent crude was down 8.64% at $69.40 per barrel by 0900 GMT. The price had surged to $77 during last week’s clashes but hovered near $65 earlier this month.
