Oil prices ease as investors assess impact of Israel-Hamas war
TOKYO: Oil prices eased in early Asia trade on Monday, reversing last Friday’s rally as investors waited to see if the Israel-Hamas conflict draws in other countries, which could drive up prices further and deal a fresh blow to the global economy.
Brent futures fell 36 cents, or 0.4%, to $90.53 per barrel and US West Texas Intermediate (WTI) crude dropped 37 cents, or 0.4%, to $87.32 a barrel by 2215 GMT on Sunday.
Both benchmarks rose nearly 6% on Friday, posting their highest daily percentage gains since April, as investors priced in the possibility of a wider Middle East conflict.
