Oil Prices Settle Near $90 Despite Rising Geopolitical Risk

Oil prices have fallen back at the start of this week despite heightened geopolitical risk after Iran attacked Israel with more than 300 missiles and drones. Traders appear to be focused on fundamentals, awaiting a more tangible event for oil markets before pushing prices any higher.- For the first time in more than a year, the US count of drilled-but-uncompleted wells (DUCs) rose in March to 4,522, up 9 wells compared to February, signaling that US production growth is stalling.- Usually, when companies start to build up fracklogs, it is an indication…