Oil sheds 1% after Iran attack, US economic data

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Oil prices fell by about 1% a barrel after Iran's attack on Israel proved to be less damaging than anticipated. Brent futures for June delivery fell 91 cents to $89.54 a barrel, a 1% loss, while U.S. crude futures for May delivery fell 87 cents to $84.79 per barrel, also a 1% loss. Israel's interception of Iran's attack eased concerns of a quickly intensifying conflict that could displace crude barrels. Strong U.S. retail sales data from the Commerce Department also hindered oil prices by increasing the likelihood of higher interest rates and reducing demand for oil. Iran's statement that it considers its retaliation to be over further lowered the geopolitical temperature. The attack caused only modest damage, with missiles shot down by Israel's Iron Dome defense system. Middle East hostilities have had little tangible impact on oil supply so far.

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https://finance.yahoo.com/news/oil-prices-fall-iran-attack-010718741.html