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☆ Exxon stock falls as earnings miss on lower natural gas prices and squeezed refining margins
▼ + stars: | 2024-04-26 | by ( Spencer Kimball | ) www.cnbc.com time to read: +2 min

An Exxon gas station is seen on October 06, 2023 in the Brooklyn borough of New York City. Exxon Mobil on Friday reported first-quarter earnings that missed expectations as the industry came under pressure from eroding refining margins and collapsing natural gas prices. Natural gas prices have plummeted 37% this year, and refining margins are lower than they were a year ago. Oil and gas production profits fell 12% to $5.67 billion, compared with $6.46 billion in same quarter last year due to lower natural gas prices. Exxon's fuel business saw earnings plummet 67% to $1.38 billion, compared with $4.18 billion in the prior year, due to lower refining margins.

Persons: Hess Organizations: Exxon, Exxon Mobil, LSEG, Chevron, Revenue, Hess Corp Locations: Brooklyn, New York City, Guyana

☆ Ellen DeGeneres spoke about the 'devastating' end of her talk show. Here are all the celebs who have spoken out about their experiences with her.
▼ + stars: | 2024-04-26 | by ( Julie Gerstein | Palmer Haasch | ) www.businessinsider.com time to read: +25 min

"The Ellen Degeneres Show" ended in May 2022, two years after toxic workplace allegations surfaced. AdvertisementShe was supposed to go out with a bang, but Ellen DeGeneres' much-loved talk show instead went out with a whimper. Even years after the 2020 controversy and ending of "The Ellen DeGeneres Show," celebrities like Emily Ratajkowski have continued to question some of her behavior. Garrett, who has appeared on "The Ellen DeGeneres Show" multiple times, reshared Variety's article about the comedian's letter apologizing to staffers who felt disrespected. AdvertisementOctavia Spencer said all her experiences on 'The Ellen DeGeneres Show' have been 'supportive and fun'The actress, who's appeared on "The Ellen DeGeneres Show" numerous times over the years, issued a statement supporting DeGeneres via Instagram on August 13.

Persons: Ellen Degeneres, DeGeneres, —, Ellen DeGeneres, Brad Garrett, Lea Thompson, Scooter Braun, Katy Perry, Emily Ratajkowski, Raymond, Garrett, reshared, hadn't, Garrett's, Thompson, didn't, Braun, Justin Bieber, Ariana Grande, she'd, Ellen, Portia de Rossi, De Rossi, Kris Jenner, Nacho Figueras, Brandi Carlile, Figueras, he'd, Jennifer Aniston, Jennifer Lopez, Michelle Obama, Pink, Sean Hayes, Lady Gaga, Oprah, Justin Timberlake —, Perry, Samantha Ronson, I've, Ronson, Diane Keaton, SHOW, Kevin Hart, Hart —, Ashton Kutcher, Kutcher, he's, Jerry O'Connell, de Rossi, O'Connell, Portia, Portia … Instagrammed, Jay Leno, Andy Richter, Ashley Nicole Black, who's, Howard Stern, Howard, Beth, Phoebe Bridgers, ellen, Octavia Spencer, Spencer, ELLEN, Sofia, Mariah Carey, Carey, that's, Steve Harvey, Jonathan Leibson, Harvey, I'd, Alec Baldwin, Baldwin, Ryan Phillippe, Phillippe, hasn't, NikkieTutorials, Nikkie de Jager, Degeneres, Tony Okunbowa, Taylor Swift's, Taylor Swift, Swift, She's, Ratajkowski, Elle Organizations: Service, Twitter, Los Angeles Times, @TheEllenShow, DJ, SHOW, Entertainment, ppl, TBS, Colombian, Us Locations: Argentine, British, Instagram, American

☆ Chevron beats earnings estimates but profit falls on lower refining margins and natural gas prices
▼ + stars: | 2024-04-26 | by ( Spencer Kimball | ) www.cnbc.com time to read: +3 min

Revenue of $48.72 billion fell from $50.79 billion a year ago and was short of analyst expectations. The company attributed declining profits to lower sales margins at its refineries and lower natural gas prices eating into profits in international production. Natural gas prices have plummeted 35% this year due to a supply glut. International oil and gas earnings fell 6% to $3.2 billion as production fell by 39,000 barrels to 1.77 million bpd due to maintenance in Nigeria and field declines. The higher spending was on its oil and gas production and old assets from PDC Energy after completing its acquisition of the company last August.

Persons: Read Organizations: Chevron, LSEG, Wall, Energy Information Administration, Denver, Hess Corp, Exxon Mobil, Federal, PDC Energy Locations: U.S, Nigeria, Guyana

☆ Exxon is working on tech to remove CO2 from atmosphere but a breakthrough is needed to slash costs
▼ + stars: | 2024-04-26 | by ( Spencer Kimball | ) www.cnbc.com time to read: +1 min

Exxon Mobil is working on technology to directly remove carbon dioxide from the atmosphere with the goal of slashing sky-high costs by half, CEO Darren Woods said Friday. Woods said direct air capture technology holds huge long-term potential as a tool to address climate change. But it is currently unaffordable at scale, with the removal of atmospheric emissions costing between $600 to $1,000 per ton. He added that atmospheric emissions are extremely dilute and require a massive amount of air to be processed to remove a single ton of carbon dioxide. "This is a tough challenge to break and I'm not pretending like we're going to be the ones to solve it," Woods said.

Persons: Darren Woods, Woods, We're, I'm Organizations: Exxon Mobil, Exxon Locations: Baytown , Texas

☆ Middle East escalation could trigger energy shock that fuels inflation, World Bank warns
▼ + stars: | 2024-04-25 | by ( Spencer Kimball | ) www.cnbc.com time to read: +1 min

The outbreak of a major conflict in the Middle East could trigger an energy shock that pushes oil prices above $100 a barrel, fuels inflation and results in higher interest rates for longer, the World Bank warned Thursday. The governments in Jerusalem and Tehran appear to have decided against escalation after exchanging direct strikes on each other's territory for the first time. Oil prices have pulled back nearly 4% from recent highs as investors have discounted the probability of a wider war in the Middle East. The World Bank, however, cautioned that the situation in the region remains uncertain. "The world is at a vulnerable moment: a major energy shock could undermine much of the progress in reducing inflation over the past two years," said World Bank Chief Economist Indermit Gill.

Persons: Israel, Indermit Gill Organizations: World Bank, Bank Locations: Isfahan Refinery, Iran, Isfahan, Jerusalem, Tehran

☆ Oil prices pull back as U.S. economic growth disappoints
▼ + stars: | 2024-04-25 | by ( Spencer Kimball | ) www.cnbc.com time to read: 1 min

A view of oil-well in action during sunset at Elk Hills Oil Field as gas prices on the rise in California, United States on April 14, 2024. Crude oil futures pulled back Thursday after U.S. economic growth disappointed. Slower economic growth can weigh on crude oil demand. Here are today's energy prices:Oil prices closed lower Wednesday as Goldman Sachs saw a slightly bearish market with global inventories on the rise. U.S. crude is up 1% this week while Brent has fallen 0.2%.

Persons: Gross, Dow Jones, Goldman Sachs, Brent Locations: Elk, California, United States, U.S

☆ Princess Diana’s first-ever job contract up for auction
▼ + stars: | 2024-04-24 | by ( Lianne Kolirin | ) edition.cnn.com time to read: +4 min

London CNN —A work contract signed by Diana Spencer two years before she married the then-Prince of Wales is expected to fetch thousands of dollars at auction. The document was filled out in black ink by the young woman who would go on to become world famous as Princess Diana. The job contract, believed to be Princess Diana’s first, was filled out when she was just 17. The document, which is expected to sell for up to $10,000, is thought to be the late princess’ first official work contract. This contract is one of the last remaining snapshots of Diana’s life before she was thrust into the spotlight.

Persons: Diana Spencer, Prince of, Diana, Diana’s, Auctioneum, nannies, Mary Cook, Cook, Andrew Stowe, ”, ’, Stowe, “, ” Stowe, Wales, It’s Organizations: London CNN, CNN, CNN’s Royal Locations: Prince of Wales, London, ”, Paris, Kensington

☆ Here are the portfolio's top 5 performing stocks since the March Monthly Meeting
▼ + stars: | 2024-04-24 | by ( Morgan Chittum | ) www.cnbc.com time to read: +7 min

Stocks hit a rough patch after the Club's March Monthly Meeting as Wall Street grappled with increasing odds of higher-for-longer interest rates. Here are our five top-performing stocks since the March Monthly Meeting. WFC YTD mountain Wells Fargo (WFC) year-to-date performance Wells Fargo led the way, with shares jumping 5.8% over the period. GOOGL YTD mountain Alphabet (GOOGL) year-to-date performance Alphabet stock rose 4.9% since the March Monthly Meeting, placing the Google parent in second place on the gainers list. EL YTD mountain Estee Lauder (EL) year-to-date performance Estee Lauder stock added 2.7% since the March Monthly Meeting, occupying the fourth spot on our list.

Persons: Stocks, Wells Fargo, Jim Cramer, Wells, Jim, he's, Lauder, Estee Lauder, Estee, Fabrizio Freda, Freda, Jim Cramer's, Dow, Spencer Platt Organizations: Dow Jones, Nasdaq, Club, Google, Big Tech, Palo Alto Networks, Bank of America, Citigroup, CNBC, Traders, New York Stock Exchange, Getty Locations: Wells, buybacks, Palo, Alto, New York City

☆ Solar manufacturers petition U.S. to impose tariffs on imports from four Southeast Asian nations
▼ + stars: | 2024-04-24 | by ( Spencer Kimball | ) www.cnbc.com time to read: +4 min

A coalition of U.S. solar manufacturers petitioned the federal government on Wednesday to impose tariffs on imports from four Southeast Asian nations, alleging that the countries are flooding the U.S. market with cheap products that threaten the domestic industry. The other six parties to the petition are Convalt Energy, Meyer Burger, Mission Solar, Qcells, REC Silicon and Swift Solar. They are requesting that the Commerce Department impose tariffs on solar cell imports from the four countries as a remedy. "This case is bad news for clean energy jobs and American solar manufacturing," Array CEO Kevin Hostetler said in a statement Wednesday. The ITC and Commerce Department investigations will take about 12 months to conclude, Brightbill said.

Persons: Meyer Burger, Tim Brightbill, Joe Biden, Brightbill, Kevin Hostetler, Janet Yellen, Biden Organizations: U.S, Convalt Energy, International Trade Commission, Commerce, ITC, Initiative, Commerce Department, Solar Energy Industries Association, American Clean Power Association, Advanced Energy, American Council, Renewable Energy, Technologies, International Energy Agency, IEA, CNBC Locations: Zhangye city, Gansu province, China, Cambodia, Malaysia, Thailand, Vietnam, U.S, The U.S, Beijing's

☆ U.S. crude oil pulls back below $83 a barrel as brief rally stalls out
▼ + stars: | 2024-04-24 | by ( Spencer Kimball | ) www.cnbc.com time to read: 1 min

A pumpjack is shown outside Midland-Odessa area in the Permian basin in Texas, U.S., July 17, 2018. Image taken July 17, 2018. U.S. crude oil fell back below $83 a barrel on Wednesday after rallying nearly 2% in the prior session. Traders are waiting for the latest U.S. petroleum inventory data with the market's focus shifting back to supply and demand fundamentals as the threat of war between Israel and Iran has faded. Here are the latest energy prices:The U.S. Senate passed a foreign aid package that would expand sanctions against Iranian oil and target ports, vessels and refineries that knowingly accept the Islamic Republic's crude exports.

Organizations: Traders, U.S, Senate Locations: Midland, Odessa, Texas, U.S, Israel, Iran

☆ A rare document shows Princess Diana hustling for her first job, seemingly lying about her age and cooking skills
▼ + stars: | 2024-04-24 | by ( Mikhaila Friel | ) www.businessinsider.com time to read: +3 min

Princess Diana's first work contract is being auctioned. Diana appeared to lie about her age to secure a job with an elite nannying agency. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementPrincess Diana's first work contract is up for auction, and it suggests she lied to get a nannying job before becoming a royal. Princess Diana's first work contract will be auctioned.

Persons: Diana's, Diana, —, Lady Diana Spencer, Prince Charles, Princess Diana's, Andrew Stowe, Darren McGrady, Mary Robertson, Roberston, Patrick, Robertson, Charles, It's Organizations: Service, Auctioneum, Business, Kensington Palace, Weekly Locations: Kensington, American, London

☆ GDP report Thursday expected to show economy still growing at a solid pace
▼ + stars: | 2024-04-24 | by ( Jeff Cox | ) www.cnbc.com time to read: +3 min

Gross domestic product, the sum of all goods and services produced across the sprawling U.S. economy, is expected to post a 2.4% annualized growth rate for the first quarter, according to the Dow Jones consensus forecast. If that estimate is accurate, it would mark a step down from the 3.4% growth rate in the fourth quarter of 2023 and just a touch less than last year's 2.5% full-year growth rate. "The U.S. economy is still very resilient, supported by a solid labor market that continues to support robust income growth and in turn, consumer spending activity," EY-Parthenon chief economist Gregory Daco said. "We are seeing a little bit of cooling in terms of the consumer spending momentum. But there isn't any form of retrenchment that would be alarming in terms of future income trends and in terms of future consumer spending trends."

Persons: Dow, Gregory Daco, Daco, Goldman Sachs, Goldman, Spencer Hill Organizations: Wall, Gross, Atlanta Federal, Commerce, Commerce Department Locations: U.S, Atlanta

☆ Leon Cooperman says roughly 15% of his family office assets are in energy stocks
▼ + stars: | 2024-04-23 | by ( Sarah Min | ) www.cnbc.com time to read: +1 min

Billionaire investor Leon Cooperman said he is significantly invested in energy stocks, citing the rise in oil prices given the Middle East conflict. The chair and CEO of the Omega Family Office said roughly 15% of his family office assets are in energy, at a time when oil prices have been spiking and weighing on the broader equity market. Cooperman has favored energy stocks in the past. The S & P 500 energy sector advanced more than 47% that year. Energy prices have recently come off their highs after Iran and Israel signaled they are not interested in a wider conflict.

Persons: Leon Cooperman, Cooperman, CNBC's, —, Yun Li, Spencer Kimball Organizations: Omega Family Office, West Texas Locations: Iran, Israel

☆ U.S. crude oil falls below $81 a barrel as market brushes off looming Iran oil sanctions
▼ + stars: | 2024-04-23 | by ( Spencer Kimball | ) www.cnbc.com time to read: 1 min

A general view of Isfahan Refinery, one of the largest refineries in Iran and is considered as the first refinery in the country in terms of diversity of petroleum products in Isfahan, Iran on November 08, 2023. U.S. crude oil fell below $81 a barrel on Tuesday, the lowest level since March, as the market brushed off the threat of additional sanctions on Iranian oil. Here are the latest energy prices:The House of Representatives passed legislation over the weekend that would broaden sanctions against Iran's oil exports to include foreign ports, vessels and refineries that knowingly process crude from the Islamic Republic. The Senate could vote on the bill as soon as this week.

Locations: Isfahan Refinery, Iran, Isfahan, Islamic Republic

☆ Citi upgrades energy sector, says geopolitical tensions could keep oil prices higher for longer
▼ + stars: | 2024-04-22 | by ( Spencer Kimball | ) www.cnbc.com time to read: +2 min

The energy sector should continue to outperform as oil prices are likely to remain higher for longer on geopolitical risk even without a major escalation in the Middle East, according to Citi. The energy sector has gained 13% this year, outperforming the broader S & P 500 . .GSPE .SPX YTD mountain S & P 500 energy sector outperforms Refinery stock Marathon Petroleum is leading the sector's performance with a gain of 33% year to date. "Our commodity team see higher for longer oil given the geopolitical risk even as a severe escalation seems unlikely." "However, in the short-term, the global reflation theme and tensions in the Middle East are keeping prices supported," the Citi team told clients.

Persons: Dirk Willer Organizations: Citi, Energy, Marathon Petroleum, Exxon Mobil, Chevron, Brent Locations: Refinery, Israel, Iran, Rafah, Russia, Saudi Arabia

☆ U.S. crude oil hovers near $83 after Iran says it will not escalate conflict with Israel
▼ + stars: | 2024-04-22 | by ( Spencer Kimball | ) www.cnbc.com time to read: 1 min

A gas flare on an oil production platform in the Soroush oil fields is seen alongside an Iranian flag in the Gulf. Crude oil futures edged lower on Monday after Iran said it will not escalate the conflict with Israel. The West Texas Intermediate contract for May lost 46 cents to $82.68 a barrel, while June Brent futures fell 89 cents to $86.40 a barrel. U.S. crude oil and Brent fell 3% last week. Iranian Foreign Minister Hossein Amirabdollahian told NBC News the Islamic Republic does not plan to respond to Israel's retaliatory strike launched Friday.

Persons: Brent, Hossein Amirabdollahian, Amirabdollahian Organizations: The West Texas Intermediate, May, NBC Locations: Iranian, Iran, Israel, The, Islamic Republic

☆ Three Places Changing Quickly to Fight Climate Change
▼ + stars: | 2024-04-22 | by ( Delger Erdenesanaa | ) www.nytimes.com time to read: +1 min

Atmospheric concentrations of carbon dioxide, the main greenhouse gas, have passed a dangerous new threshold as people continue to burn fossil fuels. Is anyplace making progress on climate change? Steps like these, taken individually, aren’t enough to avoid the most serious consequences of climate change — worsening droughts, intensified storms and human suffering. Still, they show how some places are pulling off significant local changes very quickly. Globally, “we’re not moving as fast as we need to,” said Thomas Spencer, an analyst at the International Energy Agency.

Persons: ”, Thomas Spencer Organizations: International Energy Agency Locations: South America, China, Paris

☆ Trump trial: Full jury chosen for New York hush money case
▼ + stars: | 2024-04-18 | by ( Kevin Breuninger | ) www.cnbc.com time to read: +6 min

Former US President Donald Trump sits in the courtroom at Manhattan criminal court in New York, US, on Thursday, April 18, 2024. Jeenah Moon | ReutersA full jury of 12 people was seated Thursday at the New York criminal hush money trial of former President Donald Trump. "The whole world is watching this New York scam," Trump said. Trump has denounced the trial as a political "witch hunt" and complained that it keeps him off the campaign trail. Former President Donald Trump visits a bodega in the Harlem neighborhood of upper Manhattan where a worker killed a man who had assaulted him in 2022, on April 16, 2024 in New York City.

Persons: Donald Trump, Juan Merchan, Trump, Alvin Bragg's, Joe Biden, Stormy Daniels, Brendan McDermid, Merchan, Chris Conroy, Conroy, Jesse Watters, Elizabeth Williams, Reuters Conroy, Watters, Silvio Berlusconi, Berlusconi, Judge Juan Merchan, Spencer Platt Organizations: Reuters, New, Former U.S, Prosecutors, Fox News, Liberal, Manhattan Criminal, Trump, Via Reuters Trump, Getty Locations: Manhattan, New York, York, New York City, U.S, Italy, Italian, bodega, Harlem

☆ I love Amazon Prime a bit too much — but my one shopping rule has helped me save money
▼ + stars: | 2024-04-18 | by ( Jordyn Bradley | ) www.businessinsider.com time to read: +3 min

AdvertisementI've spent a lot of money and time on Amazon Prime. And I know it's not just me — Amazon is the second biggest retailer in the world, and three out of four Americans use Amazon Prime. I like that this strategy lets me shop and get some instant gratification while also setting limits that help me cut down on unnecessary purchases I'll regret later. But, again, with my new rule, if nothing in my cart will ship within one day, it all gets taken out. This cuts many of my unnecessary purchases because most things I consider buying have standard Prime two-day shipping.

Persons: —, I've, I'm, Spencer Platt, it's Organizations: Service, Amazon

☆ European markets head for mixed open after Wall Street logs another day of declines
▼ + stars: | 2024-04-18 | by ( Holly Ellyatt | ) www.cnbc.com time to read: 1 min

Crude oil futures fell more than 3% Wednesday as the market dismissed the risk of a wider war between Israel and Iran that could disrupt supplies. The West Texas Intermediate contract for May delivery lost $2.76, or 3.23%, to $82.60 a barrel. June Brent futures were down $2.87, or 3.19%, at $87.15 a barrel. U.S. oil and the global benchmark are down more than 3.5% for the week. "Theories of Iran-Israel tension disrupting oil supplies have fizzled out," said Manish Raj, managing director of Velandera Energy Partners.

Persons: Brent, Manish Raj, — Spencer Kimball Organizations: The West Texas Intermediate, Velandera Energy Partners Locations: Israel, Iran, The, U.S

☆ U.S. oil falls below $83 as war fears ease after Israel refrains from immediate Iran counterattack
▼ + stars: | 2024-04-18 | by ( Spencer Kimball | ) www.cnbc.com time to read: +1 min

Crude oil futures were mixed Thursday after a selloff earlier in the week as traders discounted fears of a war between Israel and Iran that could disrupt crude supplies. The West Texas Intermediate contract for May delivery added 4 cents, or 0.05%, to settle at $82.73 a barrel. U.S. crude oil had gained nearly 1% to a session high of $83.47 before pulling back. Oil sold off more than 3% Wednesday as Israel has refrained so far from striking back against Iran for the Islamic Republic's unprecedented weekend air assault, reducing fears of a major war in the Middle East. U.S. crude oil and the global benchmark have fallen below the prices reached after Israel's airstrike against Iran's diplomatic compound in Damascus, Syria at the start of the month, the event that triggered the current round of hostilities.

Persons: Brent, we've, Phil Flynn Organizations: The West Texas Intermediate, Oil, Price Futures Group, Israel's Locations: Israel, Iran, The, Damascus, Syria

☆ White House will 'make sure gas prices remain affordable' heading into summer, Biden advisor says
▼ + stars: | 2024-04-18 | by ( Spencer Kimball | ) www.cnbc.com time to read: +3 min

President Joe Biden's top economic advisor said Thursday that the White House will "make sure gas prices remain affordable" when asked whether the administration would consider tapping the Strategic Petroleum Reserve. We'll continue to monitor closely and want to make sure that those gas prices remain in current ranges," Brainard said. U.S. crude oil hit a high of $87.67 per barrel this year before pulling back to around $83 a barrel. The White House is keeping a close eye on "geostrategic risk" in the Middle East, Brainard said. Daniel Yergin, vice chairman of S&P Global, said oil prices above $90 presents a problem for the broader market.

Persons: Lael Brainard, Joe Biden's, Brainard, Biden, Lloyd Austin, John Podesta, Tuesday Biden, –, Daniel Yergin, It's, Yergin, CNBC's Organizations: AAA, Summit, Strategic Petroleum Reserve, JPMorgan, Brent, P Global Locations: East, Eastern Europe, Israel, Ukraine, Iran

☆ Direct Iran-Israel war could spike oil by $30 to $40, Bank of America says
▼ + stars: | 2024-04-17 | by ( Spencer Kimball | ) www.cnbc.com time to read: +3 min

A direct war between Israel and Iran could lead to substantially higher oil prices through 2025, according to Bank of America. This scenario assumes that Iran's crude oil production falls by up to 1.5 million barrels per day due to the war. Crude oil prices have fallen for three consecutive trading sessions in the wake of Iran's weekend missile and drone assault against Israel. The bank has penciled in the first Fed interest rate cut in December, and oil prices would come down by then though remain elevated. "Should supply losses build up regionally, it may also prove difficult to access spare production capacity, so oil prices would likely settle above $150/bbl for several months," the bank's analysts forecast.

Persons: Brent, Israel, Michael Bloom Organizations: Bank of America, Israel, Bank, Federal, bbl, Israeli Locations: Israel, Iran, OPEC, U.S

☆ U.S. crude oil falls below $85 as traders discount Iran-Israel war risk
▼ + stars: | 2024-04-17 | by ( Spencer Kimball | ) www.cnbc.com time to read: +1 min

Oil prices slipped on Friday on the possibility of a nearing Gaza ceasefire that could ease geopolitical concerns in the Middle East, while a stronger dollar and faltering U.S. gasoline demand also weighed on prices. U.S. crude oil fell for the third consecutive trading session on Wednesday, dipping below $85 a barrel as the market dismissed the risk of a wider war between Israel and Iran that could disrupt supplies. The West Texas Intermediate contract for May delivery fell 46 cents, or 0.55%, to $84.89 a barrel. June Brent futures were down 51 cents, or 0.57%, at $89.51 a barrel. U.S. oil and the global benchmark are down just under 1% this week.

Persons: Brent, John Evans, PVM Organizations: U.S, The West Texas Intermediate Locations: Gaza, Israel, Iran, The, U.S

☆ Oil prices fall for second day as U.S. expects limited Israel response to Iran attack
▼ + stars: | 2024-04-16 | by ( Spencer Kimball | ) www.cnbc.com time to read: +1 min

Iran on April 14 urged Israel not to retaliate militarily to an unprecedented attack overnight, which Tehran presented as a justified response to a deadly strike on its consulate building in Damascus. (Photo by ATTA KENARE / AFP) (Photo by ATTA KENARE/AFP via Getty Images)Crude oil futures fell for a second day Tuesday as the U.S. expects a limited response from Israel to an unprecedented air assault by Iran, reducing fears that the Middle East is on the verge of a broader regional war. Four U.S. officials told NBC News they expect an Israeli response to Iran's attack to be limited in scope and most likely to involve strikes on Iranian forces and their proxies outside Iran. Israel's War Cabinet met for several hours Monday to weigh how Israel should response. An Israeli official told NBC News after the meeting that a response may be "imminent."

Persons: ATTA KENARE, Brent, Jorge Leon Organizations: Getty, West Texas Intermediate, U.S, NBC News, Rystad Energy Locations: Persian, Israel, Tehran, Iran, Damascus, AFP

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