International oil prices plunge on waning fears of Iranian oil facilities being hit

International oil prices plunged 6% as Israel's retaliatory airstrikes against Iran targeted only military facilities except for oil facilities.

On the ICE Futures Exchange, Brent crude futures for December delivery were closing at $71.42 a barrel, down $4.63 from the previous day and down 6.1%.

On the New York Mercantile Exchange, the closing price of West Texas Intermediate crude for December delivery was $67.38 per barrel, down $4.40 from the previous session and down 6.1%.

Both futures prices were at their lowest levels in more than a month by close, and the fall was the biggest in more than two years since July 12, 2022, when oil prices plunged nearly 8% in one day.

On the 26th, Israeli retaliatory airstrikes against Iran did not target Iran's oil facilities, reducing fears of disruptions to crude oil supplies and reemerging fears of shrinking demand.