Oil prices drop below $90 per barrel as Iran denies attacks
Oil prices have dropped below $90 per barrel, today, in the global market as Iran denies suspected missile attacks by Israel, which previously fueled speculation over possible supply disruption and market instability.
Contrary to speculation, an Iranian official told Reuters that there was no missile strike carried out against Iran, adding that the explosions in the Iranian city of Isfahan were, due to the activation of air defense systems of Iran.
However, a source at the London oil market, said: “The market responded positively, pushing prices to more than $93 per barrel in the early hours today, because of speculation that the alleged attack on Iran could lead to shortage.”
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