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International Business Times
International Business Times
Business
AFP News

Oil Prices Tumble As Iran Fears Ease, Yen Weakens After Japan Polls

Iran Oil Japan Israel Stephen Innes Bank of Japan
Crude prices tumbled as fears over an escalation in the Middle East crisis eased after Israeli strikes avoided Iran's oil facilities (Credit: AFP)

Oil prices tumbled Monday with markets relieved that Israel's strikes on Iran had avoided the country's energy infrastructure while the yen fell to a three-month low after Japan's ruling party suffered an election drubbing.

Israel carried out air strikes on military sites in Iran on Saturday in response to Tehran's October 1 missile barrage, itself retaliation for the killing of Iran-backed militant leaders and a Revolutionary Guards commander.

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