Oil prices slumped today after Israel’s retaliatory strike on Iran did not target the OPEC member’s oil and nuclear facilities, easing concerns about potential disruption in the crude supplies. 

Brent Crude was trading 5.7 per cent down at 71 dollars and 66 cents per barrel, and WTI Crude tumbled over six per cent to trade at 67 dollars and 40 cents per barrel when the reports last came in.