Oil Prices Drop

Iran News - - INTERNATIONAL -

LON­DON (Dis­patches) - Oil fell nearly 2 per­cent on Mon­day after U.S. drilling ac­tiv­ity rose and fears waned about es­ca­lat­ing ten­sions in the Mid­dle East fol­low­ing air strikes on Syria over the week­end.

The oil price had risen nearly 10 per­cent in the run-up to the strikes, as in­vestors bulked up on as­sets, such as gold or U.S. Trea­suries, that can shield against geopo­lit­i­cal risks. On Mon­day, Brent crude oil fu­tures slipped $1.34 to $71.24 a bar­rel, while U.S. crude fu­tures were down $1.16 at $66.23 a bar­rel.

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