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Mideast Strike Fizzles: Oil Prices Dip Despite Geopolitical Jitters – By Hemantha Yapa Abeywardena Source : oilfutures The energy markets breathed a sigh of relief on Friday, as the military conflict between the arch-enemies in the Middle East, Israel and Iran, appeared to have subsided – at least, for now. As the news trickled in about an Israeli strike inside Iran in the morning on Friday, it was not clear what really was going on in the Islamic Republic: the airspace was closed all of a sudden in the wee hours on Friday; there were reports about explosions in the city of Isfahan, the third largest Iranian city of immense cultural significance as well as the home for major military sites and above all, Iranian nuclear sites. The Iranian authorities downplayed the attack while reopening the airspace for flights in a couple of hours. The US military officials, meanwhile, had already ...