Oil prices were muted as markets reopened following Iran’s military strike on Israel, as traders shrugged off fears the conflict could escalate into a full-blown war and curb supplies from the region.
Brent crude, the international benchmark, was flat at $90.45 a barrel as trading began in Asia on Monday morning. West Texas Intermediate, the US marker, was also broadly unchanged at $85.72/b.
The subdued reaction suggested markets were betting that the fallout from the strike would be contained after Iran said it considered the matter “concluded” and Washington sought to de-escalate tensions.
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