Oil prices are down today as investors focus on the possibility that an escalation of the conflict in the Middle East could be averted, and with it concerns about possible supply disruptions.
In London, the price of Brent crude oil from the North Sea is lower by 63 cents or 0.72 percent and is now 86.66 dollars per barrel.
In New York, the price of light crude oil fell by 64 cents, or 0.77 percent, to $82.05 per barrel.
Investors believe that the geopolitical risk is reduced and that the Israeli response to the Iranian attack on April 13 will be moderate due to the reaction of the international community.
