WASHINGTON (dpa-AFX) - Oil prices edged lower on Monday after surging 7 percent on Friday amid concerns around energy flows.
Brent crude futures declined 0.6 percent to $73.78 a barrel in European trade, while WTI crude futures were down 0.8 percent at $70.72.
As Iran and Israel entered into the fourth day of the conflict, both countries pounded each other with missiles and threatened further attacks, stoking fears that the conflict could widen and significantly disrupt oil exports from the Middle East.
Early Monday, Israeli forces targeted a series of surface-to-surface missile sites in western and central Iran.
Iranian strikes on Tel Aviv, Haifa, and Petah Tikva killed at least five, injured dozens, and damaged key infrastructure, including a power plant.
As tensions escalate, U.S. President Donald Trump has expressed optimism about brokering peace.
Speaking to reporters before departing for the G7 Summit in Canada, Trump said, 'There's a good chance' that a ceasefire could be reached, although he added, 'sometimes they have to fight it out.'
World leaders have gathered in Canada for the G7 summit, which will address global security, economic resilience, and tech cooperation. Discussions to resolve the Middle East crisis will be a top priority.
Copyright(c) 2025 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX
© 2025 AFX News
