Oil prices were largely steady on Tuesday, April 16, after the United States announced plans to hit Iran with new sanctions following its weekend drone attack on Israel, and as Israel’s defense cabinet is also set to meet for the third time in three days.
The current cooling in prices comes after concern that Iran will respond to the April 1 strike on its embassy in Damascus sent Brent to $92.18 last week – its highest since October. But prices retreated on Monday after Iran’s attack on Israel over the weekend proved less damaging than anticipated.
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Published: 16 Apr 2024, 22:32 IST