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Oil prices retreat as Iran-Israel tensions ease
Oil prices fell on Monday, dragged down by a renewed focus on market fundamentals as Israel and Iran played down the risks of an escalation of hostilities in the Middle East after Israel’s apparently small strike on Iran. Brent futures fell 67 cents, or 0.77%, to $86.62 a barrel by 0415 GMT. The front-month U.S. West Texas Intermediate (WTI) crude contract for May, which expires on Monday, fell 63 cents, or 0.76%, to $82.51 a barrel, while the more active June contract dropped 64 cents to $81.58 a barrel. “Brent crude prices failed to retain its initial surge, with broad expectations that geopolitical tensions ... (full story)