Crude prices dropped after a report said Israeli Prime Minister Benjamin Netanyahu had pledged not to hit Iran's oil infrastructure in retaliation for a missile strike on his country.
Photo: SPENCER PLATT / GETTY IMAGES NORTH AMERICA/Getty Images via AFPSource: AFPOil prices extended losses Tuesday after a report said Israeli Prime Minister Benjamin Netanyahu had told US President Joe Biden he would not strike Iran's crude or nuclear facilities in retaliation for a missile attack earlier this month.
Netanyahu on Monday vowed to hit Hezbollah without mercy, a day after the Iran-backed group's deadliest strike on Israel since the start of their war in late September.
Adding to the downward pressure on oil is concern that China would struggle to reignite the world's second-biggest economy after a much-anticipated news conference on Saturday left investors wanting.
Key data later in the week, including on retail sales, trade and economic growth, could provide a fresh update on the state of the country's finances...
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