Crude futures fell sharply in Asian trading on 28 October after Israel avoided targeting energy facilities in its weekend attack on Iran.
Brent and WTI futures both fell by around 5pc soon after markets opened, as Israel's retaliatory strike on Iran appeared more limited than had been expected. The attacks involved "targeted and precise strikes on military targets in Iran", the Israel Defense Forces said.
The possibility that the Israeli attack could target energy facilities had sent oil prices strongly higher earlier this month.
Iran's leaders have yet to make clear whether, or how, they will respond to the latest Israeli strikes.
The front-month December crude contract on Ice fell by $4.06/bl or 5.3pc to $71.99/bl in early trading, before recovering slightly to trade at $72.68/bl at 10.54am Singapore time (02:54 GMT).
The Nymex front-month December crude contract fell by as much as $3.99/bl or 5.5pc to $67.79/bl. The contract was trading at $68.50/bl at 10.54am in Singapore.
