Oil prices remain stable despite geopolitical tensions

Initial Dip in Oil Prices Post Iran-Israel Incident

Oil prices experienced a decline on Monday, reacting to a geopolitical incident over the weekend where Iran launched an attack on Israel. This event caused initial concerns about potential disruptions in oil flow through the Middle East but was quickly assessed as having limited immediate impact on the oil market.

Geopolitical Tensions

Iran’s retaliation with over 300 missiles and drones marked the first direct attack on Israel from another country in over three decades, stirring fears of a broader regional conflict. Despite the scale of the attack, the damage was minimal, primarily due to Israel’s Iron Dome defense system effectively intercepting the missiles. The attack followed a strike on Iran’s consulate in Damascus, which Iran attributed to Israel, though Israel has not confirmed the action.