The sharp decline in prices was driven by the relief that Israeli airstrikes, launched in response to Iranian missile attacks earlier this month, targeted military installations instead of energy assets such as oil fields or nuclear facilities

Brent crude, a pivotal benchmark for international oil prices, experienced a decline in early Asian trade, though it remained proximate to the $90 per barrel mark on Monday morning

According to the IIF's assessment, while the likelihood of a wider regional war remains below 30% in their baseline scenario, the consequences of such an escalation would be dire for global energy markets

Al-Rai learned that the lowest prices in the second round of practising comprehensive engineering design services and managing major projects for the Kuwait Oil Company and related services fell to between 69.6 and 81.2 million dinars, after it was in the first practice round between 81.3 and 88.4 million, before Technip's return to practice after the grievance, which means a decrease in the lowest price between the two rounds by about 11.7 million.