Oil prices experienced volatility following reports of an attack by Israel on Iran, initially causing a spike in prices due to concerns over potential disruptions in Middle East oil supply. However, the situation stabilized as both Israel and Iran downplayed the severity of the attacks, and as global oil stocks helped to counterbalance the initial panic. The market remains cautious, with prices ending below the day's highs as fears of a major escalation subsided.
Oil ends below day’s highs as panic eases over Israel's retaliation against Iran https://t.co/cMwQa6E8df
WATCH: Oil slipped after prices spiked on concerns that the Middle East oil supply could be disrupted following reports that Israel had attacked Iran https://t.co/5hhM9mMXNI https://t.co/eyfaodRfsd
Oil slides as Israel, Iran downplay attacks, but markets remain on edge https://t.co/r33ynTcjdZ
Oil steadied after prices spiked on reports that Israel attacked Iran, as fears of an escalation to Mideast hostilities appeared to ease https://t.co/vxDfMXodAp https://t.co/hJann1dLzw
Oil steadied after prices spiked earlier on reports that Israel had attacked Iran, as market fears of a major escalation to hostilities in the Mideast appeared to ease and a build-up of global oil stocks weighed https://t.co/vxDfMXoLpX https://t.co/rAxVttv5NL