Oil Prices Flat as Traders Await Developments in the Iran-Israel Conflict

Crude oil prices were flat early on Monday morning, as traders await the next development in the ongoing conflict between Israel and Iran following a major spike in prices last week. After booking the strongest rise in about a year, Brent crude and West Texas Intermediate started this week flat, with Brent trading around $78 a barrel and WTI trading below $75 per barrel. A big portion of the gains that oil prices made last week came after President Biden said the U.S. had discussed possible targeting of Iran’s oil industry with the government…