Oil prices dip amid US-Iran decision delay
Oil prices slipped on Friday after the White House delayed a decision on US involvement in the rising tensions between Israel and Iran.
Brent crude dropped to $76.96, though it's still up nearly 4% for the week.
US oil prices saw some small gains.
Israel-Iran conflict pushes oil prices up
Things heated up when Israel hit Iranian nuclear sites and Iran fired back with missiles, briefly pushing oil prices up 3%.
The big worry? Disruptions in the Strait of Hormuz—a major route for global oil shipments.
Analyst John Evans pointed out that unexpected fallout could hit vital oil infrastructure.
Iran moves oil storage closer to China
With tensions high, Iran is moving some of its oil storage closer to China, just in case things get worse.
Analyst Ashley Kelty even warned that if the conflict escalates further, we could see oil shoot up to $100 a barrel.