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Oil slips 3% to a 12-day low as U.S.-Iran tensions persist

The move came as Iran said it plans a two-year approach to deal with Washington’s impact.

Reported · Written up by our desk · Energy

Oil prices fell 3% to a 12-day low amid ongoing developments in the U.S.-Iran conflict, with traders largely shrugging off the latest headlines, CNBC Markets reports.

CNBC World similarly attributed the drop to investors adjusting to the most recent U.S.-Iran messaging as tensions continue to weigh on the energy outlook.

The reports pointed to Iran’s stated two-year plan to cope with Washington’s so-called “economic D-Day” as part of the backdrop to the selloff.

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