TOKYO: Oil prices fell on Monday, partly reversing Friday’s rally as investors wait to see if the Israel-Hamas conflict draws in other countries, which could drive up prices and deal a fresh blow to the global economy.
Brent futures slid 34 cents, or 0.4%, to $90.55 per barrel and US West Texas Intermediate (WTI) crude dropped 41 cents, or 0.5%, to $87.28 a barrel by 0048 GMT.
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.
