Crude oil futures experienced volatility, initially rising over 1% on reports of a potential Israeli strike on Iran, but then falling after a surprising increase in US crude inventories signaled weakening demand. Brent and WTI prices closed down 0.4%.

• Initial price surge fueled by geopolitical risk.
• US inventory build sparked demand concerns.
• Brent settled at $65.12, WTI at $61.80.