Crude oil prices fall more than 4% as looming surplus overshadows Iran-Israel tensions

From cnbc.com

Crude oil futures fell more than 4% on Tuesday, as a looming global oil surplus next year overshadowed the risk of a supply disruption from the conflict between Israel and Iran. Oil prices spiked earlier this month after Iran hit Israel with a ballistic missile attack, raising fears that Israel would respond by targeting the Islamic Republic’s oil facilities. The International Energy Agency said Tuesday that its members are prepared to take action if there is a supply disruption in the Middle East. “For now, supply keeps flowing, and in the absence of a major disruption, the market is faced with a sizeable ... (full story)