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Why are oil prices muted despite Iran attack?
Oil prices have failed to soar even after major crude producer Iran attacked Israel with drones and missiles, risking wider conflict in the crude-rich Middle East. Fallout from Iran's actions were to an extent priced in by markets as warnings had been given prior to the attack, although the scale of retaliation remains unclear. "The attack, announced well in advance, resulted in minimal damage as Israeli and allied forces intercepted nearly all projectiles," noted Ole Hvalbye, analyst at SEB bank. From late on Saturday to early Sunday, Iran launched more than 300 drones, missiles and ballistic missiles at Israel but ... (full story)