# Oil prices drop by 6% as Israel's strike on Iran avoids energy facilities  | The National

> Oil prices fell about 6% on Oct 28 after Israeli strikes on Iran focused on military sites and avoided energy facilities. Brent traded near $71.48 and WTI near $67.21.

- Date: 2024-10-28 · published 2024-10-28T12:00:00.000Z
- Category: geopolitics · region Middle East · magnitude medium
- Page: https://feedsoft.ai/events/28027-oil-prices-drop-by-6-as-israel-s-strike-on-iran-avoids-energy-facilities-the
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

The removal of the Middle East risk premium lowers crude prices, easing energy costs for feed processing and transport.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2025-06-23 | [Oil prices drop 6% as Israel-Iran ceasefire reduces Middle East supply risk \| Reuters](https://feedsoft.ai/events/8643-oil-prices-drop-6-as-israel-iran-ceasefire-reduces-middle-east-supply-risk.md) | -11.9% | -9.9% |
| BRENT | 2026-05-29 | [Oil prices log steepest weekly loss since April on potential US-Iran peace deal \| The National](https://feedsoft.ai/events/12723-oil-prices-log-steepest-weekly-loss-since-april-on-potential-us-iran-peace-deal.md) | +2.5% | -21.2% |
| BRENT | 2024-04-17 | [Oil prices fall more than 3% as traders discount Iran-Israel war risk](https://feedsoft.ai/events/30931-oil-prices-fall-more-than-3-as-traders-discount-iran-israel-war-risk.md) | -2.5% | -9.9% |
| BRENT | 2026-02-02 | [Oil prices fall nearly 5%, below $62/bbl on US‑Iran de‑escalation - The Economic Times](https://feedsoft.ai/events/8801-oil-prices-fall-nearly-5-below-62-bbl-on-us-iran-de-escalation-the-economic.md) | -3.1% | +0.6% |
| BRENT | 2020-01-08 | [Oil Prices Drop Sharply as Worry Over Iran Attacks Fades](https://feedsoft.ai/events/9663-oil-prices-drop-sharply-as-worry-over-iran-attacks-fades.md) | -5.9% | -21.3% |
| WTI | 2025-06-23 | [Oil prices drop 6% as Israel-Iran ceasefire reduces Middle East supply risk \| Reuters](https://feedsoft.ai/events/8643-oil-prices-drop-6-as-israel-iran-ceasefire-reduces-middle-east-supply-risk.md) | -12.2% | -9.7% |
| WTI | 2026-05-29 | [Oil prices log steepest weekly loss since April on potential US-Iran peace deal \| The National](https://feedsoft.ai/events/12723-oil-prices-log-steepest-weekly-loss-since-april-on-potential-us-iran-peace-deal.md) | +4.6% | -23.5% |
| WTI | 2024-04-17 | [Oil prices fall more than 3% as traders discount Iran-Israel war risk](https://feedsoft.ai/events/30931-oil-prices-fall-more-than-3-as-traders-discount-iran-israel-war-risk.md) | -2.3% | -7.9% |

## Sources

- thenationalnews.com: https://www.thenationalnews.com/business/energy/2024/10/28/oil-prices-slump-more-than-4-as-israels-strike-on-iran-avoids-energy-facilities/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.