Black gold prices fell slightly on Monday, despite an intensification of the conflict between Israel and Iran, as Israeli strikes did not slow Tehran's oil exports and the United States did not so far intervene directly.

Around 09:15 GMT (11:15 CET), the price of a barrel of Brent from the North Sea, for delivery in August, lost 0.93% to 73.54 dollars. Its American equivalent, a barrel of West Texas Intermediate, for delivery in July, fell by 0.86% to

US President Donald Trump, an ally of Israel, called on the two belligerent countries to “reach an agreement”, adding that it was “possible” for the United States to get involved in the conflict, but that it was not “at this moment”.

"The United States has the power and the will to contain the situation,” said Janiv Shah, an analyst at Rystad Energy.

The fact that the conflict has not yet spread to other countries also favors a wait-and-see attitude in the market.

Such an expansion would lead to a reduction in the supply of barrels or to a blockage of supply, especially from the Strait of Hormuz, through which nearly 20% of global production transits.

But an Israeli drone attack on a strategic refinery in Iran (the South Pars-North Dome gas field) on Saturday caused a “powerful explosion” and a fire at the site in the south of the country.

This huge field, shared with Qatar, is the largest known gas reserve in the world. It provides about 70% of the natural gas consumed in Iran.

Iranian Foreign Minister Abbas Araghchi said on Sunday that the attack was aimed at “expanding the war beyond” Iran, adding that any military activity in the Gulf “could involve the entire region, if not the entire world.”