Beers & Burgers: Harvey's To Go | SaltWire #harveys #burger #beer #foodbloggerBEIJING - Oil prices fell at Asia's open on Monday, as market participants dialled back risk premiums following Iran's attack on Israel late on Saturday which the Israeli government said caused limited damage.
But the attack, which Iran called retaliation for an air strike on its Damascus consulate, caused only modest damage, with missiles shot down by Israel's Iron Dome defence system. Israel, which is at war with Iran-backed Hamas militants in Gaza, has neither confirmed nor denied it struck the consulate.
"The Iranian retaliatory missile and drone attack on Israel yesterday morning appears sufficient in size to revenge the killing of Iranian military personnel in Syria without being damaging enough to trigger a further escalation in hostilities at this point," IG market analyst Tony Sycamore said in a client note.
But prices still ended the week down about 1% after the International Energy Agency lowered its forecast for oil demand growth this year.