U.S. crude oil futures dropped slightly Wednesday, trading below $71 per barrel after sharp losses in the previous session. This followed reports that Israel will not target Iran's oil infrastructure. On Tuesday, the U.S. benchmark plunged over 4% after Israeli officials informed the U.S. that retaliatory strikes would focus solely on military assets in Iran. Concerns over a disruption in Middle Eastern oil supply have lessened, reversing gains made following Iran's missile strike on Israel.
