Daily Updates News 
Global oil prices edged lower after Iran’s missile attack on US bases in Qatar turned out to be less disruptive than expected. Markets had feared a major escalation that could threaten Middle East energy supplies, but Iran’s operation notably avoided oil facilities and key energy assets.
The measured nature of the strike helped ease investor concerns over immediate supply shocks, though volatility in the region remains high.
Oil prices dropped sharply after Iran’s missile strike on US bases in Qatar turned out to be less severe than expected, easing fears of immediate disruption to Middle East oil flows.
According to Axios, Iran launched six missiles, but avoided critical energy infrastructure. West Texas Intermediate (WTI) crude fell by up to 4%, briefly dipping below $72 per barrel. Initial market panic was driven by speculation that Iran might block the Strait of Hormuz, a vital chokepoint for nearly 20% of global oil trade.
Adding to the pressure, former President Donald Trump took to social media, warning against rising oil prices and urging the Energy Department to ramp up domestic drilling. Energy Secretary Chris Wright responded, “We’re on it.”
Oil Prices Ease as Iran’s Missile Strike Seen as Measured, Market Fears Subside.
Crude oil prices continued to lose momentum, with WTI falling below $72 per barrel, as fears of a major energy supply disruption from the Middle East eased. While initial market concerns centered around the possibility of Iran targeting oil flows in retaliation for US airstrikes on Iranian nuclear facilities, that threat appears to have softened.
Tehran had warned of “everlasting consequences” following the US attacks, and Reuters reported a high risk of further strikes against US forces. However, Iran’s actual response — a missile attack on US Al Udeid Air Base in Qatar — was seen as symbolic and restrained.
“This appears to me well orchestrated — Iran hits an empty US base, plenty of warning ahead with airspace closure and shelter guidance. Iran gets its face-saving response and stays clear of the Straits of Hormuz,” said Harry Tchilinguirian, Head of Research at Onyx Capital Group.
Market sentiment had already begun to shift before Donald Trump’s social media post, in which he urged the Energy Department to increase domestic drilling. While the post added slight downward pressure, analysts say oil prices were already trending lower due to fading geopolitical panic.
