A possible attack by Israel on Iran is imminent. This concern is already noticeable in the development of oil prices.
Oil prices fell significantly on Tuesday following a Washington Post report on details of Israel’s possible attack plans on Iran. The US newspaper reported that Israel wants to focus on military facilities and spare nuclear and oil facilities in its planned retaliatory strike against Iran.
The price for a barrel (159 liters) of North Sea Brent for delivery in December fell by $2.34, or around three percent, to $75.12 in early trading, after falling by around two percent on Monday. At the beginning of last week, a barrel of Brent crude cost more than $80 at times, partly because of fears of attacks on Iranian oil facilities.
The price for a barrel of the US WTI variety for delivery in November also fell significantly on Tuesday morning.