Barils de pétrole - Photo: Waldemar Brandt/Pexels
Oil prices fell by around 2% on Friday after Israeli Prime Minister Benjamin Netanyahu stated that Iran was on the verge of being "decimated" and that the war would end "sooner" than expected.
Brent crude, the international benchmark, was down 1.71% at $106.79 per barrel around 06:15 GMT. It had surged the previous day to nearly $120 before significantly paring gains.
Its U.S. equivalent, West Texas Intermediate (WTI) crude, retreated 2.15% to $93.50 per barrel on Friday.
"Netanyahu's comments have soothed the markets," wrote Stephen Innes, an analyst at SPI Asset Management, in a note.
Iran is "being decimated" and Israel is "winning the war," Netanyahu declared at a press conference on Thursday. Iran no longer has "the capacity to enrich uranium" or "to produce ballistic missiles," he claimed.
Asian stock markets reflected this uncertainty on Friday. The Hang Seng index was down 0.75% at 25,308.56 points, and the Shanghai Composite fell 0.51% to 3,986.22 points.
The International Maritime Organization has called for a "safe maritime corridor" to evacuate ships stranded in the Gulf.
Oil markets regained some breathing room on Friday, after climbing the previous day following Iranian strikes on key energy sites in retaliation for an Israeli attack on the South Pars gas field.
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