Oil falls by more than $1/bbl as Israel officials seek to avoid broader Middle East war

Oil prices fell more than one dollar a barrel today after Israeli officials said they wanted to avoid dragging the Middle East into an all-out war while responding to a deadly rocket strike in the Israeli-occupied Golan Heights over the weekend.

Brent futures for September delivery fell $1.53 to $79.60 a barrel.

U.S. crude dropped one dollar $0.52 cents to $75.64 per barrel.