Crude Oil is trading slightly lower today in the European session below the $85 level.
Despite Iran's drone and missile strikes on Israel, crude oil futures experienced a decline on Monday morning. Iran's assault, which utilised over 300 drones and missiles, was directed at Israel in response to an attack on the Iranian embassy in Syria. Iran suspects Israeli involvement in the Syrian embassy incident.
Market reports suggest that the Israeli government is gearing up to retaliate against Saturday's attack. A potential escalation to a full-scale conflict between Israel and Iran has the potential to disrupt crude oil supplies to the global market. Iran holds significant prominence as a producer of crude oil worldwide.