Crude oil prices fell more than 4 percent on Tuesday after a report that Israel was willing to spare Iranian oil targets, easing concerns over supply disruption.
Brent crude oil price fell to $73.83 a barrel, while West Texas Intermediate, WTI, dropped to $70.20 a barrel.
Benjamin Netanyahu, Israel’s Prime Minister, told the US that his country would strike military targets, and not oil or nuclear facilities in Iran.
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On October 3, the Organisation of Petroleum Exporting Countries, OPEC, and its allies, known as OPEC+, retained its oil output policy, including a plan to start raising output in December.
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