WTI crude oil price data from financial markets or credible financial news sources

Netanyahu Tells U.S. Israel Will Strike Iranian Military Targets Only; Oil Falls 5% to $72.50

Oct 15, 2024, 04:59 AM

Israeli Prime Minister Benjamin Netanyahu has informed the United States that Israel is prepared to strike Iranian military targets in response to an October 1st missile attack, but will not target Iran's nuclear or oil facilities, according to reports from the Washington Post. Netanyahu's decision to limit retaliation to military sites has been influenced by U.S. concerns and aims to reduce the likelihood of a wider Middle East conflict. The Israeli Prime Minister's office stated, "We listen to the opinions of the American administration, but we will make our final decisions based on Israel's national interests." The news has led to a significant drop in oil prices, with WTI crude oil falling nearly 5% to around $72.50 per barrel, as fears of disruptions to Iran's oil supply eased. WTI extended losses in post-market trading. The U.S. is reportedly deploying the THAAD missile defense system to Israel as tensions continue.