Oil jumped early, then faded and fell more than $3 at the lows in early New York trade. It’s since rebounded somewhat after fresh Israeli strikes in Iranian threats.
It settled $1.21 lower at $71.77 per barrel.
How it goes will depend on what happens next in the Middle East but no barrels (or very few) have been lost so far.
This article was written by Adam Button at www.forexlive.com.