U.S. oil prices approach $86 as market waits for Israel response to Iran's drone and missile attack

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Iran launched more than 300 drones and missiles against military targets in Israel in an attack that President Joe Biden described as…

Iran launched more than 300 drones and missiles against military targets in Israel on Saturday in an attack that President Joe Biden described as"unprecedented."

The West Texas Intermediate contract for May added 8 cents to $85.74 a barrel as trading began Sunday evening. June Brent futures eased slightly to $90.12 a barrel. U.S. crude closed at $85.66 a barrel Friday, while the global benchmark settled at $90.45. WTI futures began the year around $71 a barrel.The U.S. intervened to directly help Israel shoot down nearly all of the incoming munitions, Biden said in a statement Saturday.

The air assault was the first time Iran has directly attacked Israeli territory, senior U.S. military officials told reporters in a call Sunday. The attack was launched from locations in Iran, Iraq, Syria and Yemen, the officials said. More than 100 ballistic missiles were fired at Israel as well as land attack cruise missiles and drones, a senior administration official said.

U.S. National Security spokesperson John Kirby told NBC News'"Meet the Press" Sunday that Biden does not want a wider with Iran."The coming hours and days will tell us a lot," Kirby said.

 

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