Oil Updates — crude markets stabilize as Israel-Iran conflict doesn’t impair oil flows

LONDON: Oil prices edged down on Monday, after surging 7 percent on Friday, as renewed military strikes by Israel and Iran over the weekend left oil production and export facilities unaffected. Brent futures were down 95 cents, or 1.26 percent, to $73.28 a barrel by 3:15 p.m. Saudi time, while US WTI futures were off $1 or 1.37 percent, to $71.98. Both benchmarks jumped more than $4 a barrel in Asian trading before giving back gains. They settled 7 percent higher on Friday, having surged more than 13 percent during the session to their highest levels since January.

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