Oil prices edged down on Monday, after surging 7% on Friday, as renewed military strikes by Israel and Iran over the weekend left oil production and export facilities unaffected. Brent futures were down 58 cents, or 0.8%, to $73.65 a barrel by 0900 GMT, while U.S. WTI futures were off 51 cents or 0.7%, to $72.47.
A fire at the Marathon Petroleum refinery in Texas City prompted emergency response and air monitoring. A shelter-in-place order was issued but later lifted. No injuries were reported, and teams continue to assess the situation.
Curious Minds Corner
Can natural gas actually freeze solid?
Under high pressure and low temperatures (often found in deepwater pipelines), natural gas and water can form ice-like solids called methane hydrates.