U.S. crude oil futures edged lower on Wednesday, trading below $71 a barrel, after a report that Israel would not attack Iranian oil facilities sent U.S. crude oil futures sharply lower in the previous session.
this U.S. benchmark index plummets Shares in Israel rose more than 4% on Tuesday after Israel told the United States it would limit retaliatory strikes against Iranian military targets, a senior Biden administration official told NBC News.
Crude oil prices have given up most of the gains they made after Iran launched a ballistic missile attack on Israel on Oct. 1, as concerns about Middle East oil supply disruptions eased.
Here are energy prices for Wednesday:
- West Texas Intermediate Oil November contract: $70.28 per barrel, down 30 cents, or 0.43%. U.S. crude has fallen nearly 2% so far this year.
- Brent December contract: $73.94 per barrel, down 31 cents, or 0.42%. The global benchmark has fallen about 4% so far this year.
- RBOB gasoline November contract: $2.0378 per gallon, little changed. Gasoline prices have fallen about 3% so far this year.
- natural gas November contract: $2.464/thousand cubic feet, down 1.36%. Natural gas prices have fallen about 2% so far this year.
