While no one was paying attention, crude oil prices quietly fell by over 11% since the beginning of August. You can only ...

The strongest action was in the oil market, where the price of a barrel of benchmark U.S. crude jumped 7.4% to $73.08. Brent crude, the international standard, rose 7.2% to $74.34 for a barrel.

The price of oil increased more than 4% after Sunday night, but it moved back as the focus transitioned from the U.S. military strikes on Iranian nuclear sites over the weekend.

Oil prices have risen about 10% since Israel’s surprise attack on June 13 and then fell on Friday after U.S. President Donald Trump announced a two-week deadline on whether to strike Iran.

If the conflict eliminates Iranian oil from the market, oil prices could spike by about $7.50 a barrel, according to Andy Lipow, president of Lipow Oil Associates, a consulting firm.

Last year, India leapfrogged China to become the biggest buyer of Russian oil, purchasing up to 2 million barrels of discounted barrels per day, good for ~2% of global supply. India bought Russian oil ...

By Monday morning, the price of a benchmark barrel of U.S. oil was up 0.4% at $74.16 after briefly dipping to a loss. Brent crude, the international standard, edged up by 0.2% to $77.17 per barrel ...

If the conflict eliminates Iranian oil from the market, oil prices could spike by about $7.50 a barrel, according to Andy Lipow, president of Lipow Oil Associates, a consulting firm.