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Oil prices sink after Iranian strike on US airbase reduces fears of market disruption

Crude oil prices dropped by 7% on hopes that the conflict would not immediately disrupt region’s oil supplies

Oil prices dropped sharply after Iran’s retaliatory missile strike on a US airbase reduced concern that the country was poised to strain energy markets by closing off a vital trade route.

Crude oil prices sank by 7% on Monday, with West Texas Intermediate (WTI) futures dropping to $68.51, as the Iranian action on the Al Udeid base in Qatar raised hopes that the conflict would not immediately disrupt oil supplies from the region.

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from The Guardian https://ift.tt/S69U4zD
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