Oil little changed as Middle East supply concerns fade
© Reuters. FILE PHOTO: Oil rigs are seen at Vaca Muerta shale oil and gas drilling, in the Patagonian province of Neuquen, Argentina January 21, 2019. REUTERS/Agustin Marcarian/File Photo
Brent and WTI surged more than $3.50 on Monday as the military clashes raised fears that the conflict could spread beyond Gaza, but settled lower in Tuesday's session., markets worried that if the conflict escalates it could hurt Middle East supply and worsen an expected deficit for the rest of the year.
Powerful Iraqi and Yemeni armed groups aligned with Iran have threatened to target U.S. interests with missiles and drones if Washington intervenes to support Israel.
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