New York oil prices sharply down despite Middle East concerns

New York oil prices extended gains to a third day of trading amid geopolitical concerns in the Middle East, but their intraday gains were significantly reduced by disappointment with U.S. manufacturing data.

On the New York Mercantile Exchange, West Texas Intermediate for December delivery closed at $69.49 a barrel, up $0.23 and 0.33% from the previous session.

Brent crude oil for January delivery, which is subject to international market comparisons, closed at $73.1 a barrel, up $0.29 and 0.40% from the previous session.Oil prices soared on speculation that Iran could retaliate again against Israel by early trading in

, but they were apparently sensitive to the U.S. nonfarm employment shock in October and U.S. manufacturing data below expectations.

"Iran's further response may be limited, similar to the limited attacks Israel made over the weekend, and may be to show off strength rather than war," SEB Research said.