Oil Prices Fall as Investors Weigh US-Iran Conflict Uncertainty

Oil prices edged lower on Thursday as investors weighed the uncertainty of renewed military strikes between the US and Iran that risk disrupting supplies from the Middle East.

Brent crude futures fell 43 cents, or 0.45 per cent, to $95.20 a barrel at 12:29am GMT (8:29am SGT), while US West Texas Intermediate crude futures were down 24 cents, or 0.26 per cent, at $90.77.

The latest attacks were the most substantial exchange of fire between the US and Iran since July, with the war now in its seventh month.

US President Donald Trump said on Wednesday that the renewed US campaign against Iran would not continue for 'too long', and that US forces had targeted Iran's radar and missile systems.