NEW YORK: Oil prices sank by about 1% a barrel on Monday after Iran’s weekend attack on Israel proved to be less damaging than anticipated, easing concerns of a quickly intensifying conflict that could displace crude barrels.
Brent futures for June delivery fell 91 cents to $89.54 a barrel, a 1% loss, by 1:17 p.m. EDT (1717 GMT). U.S. crude futures for May delivery fell 87 cents to $84.79 per barrel, a 1% loss.
