Oil falls 6% on reduced risk of wider Mideast war

Global oil prices are falling sharply after a retaliatory strike by Israel over the weekend targeted Iranian military sites rather than its energy infrastructure as had been feared. Prices for crude spiked globally on Oct. 2 after Iran fired nearly 200 missiles into Israel, part of a series of rapidly escalating attacks between Israel and Iran and its Arab allies that threatened to push the Middle East closer to a regionwide war. LiveNOW from FOX host Jeane Franseen spoke to Patrick Gourley, associated professor of Economics and Business analyst with University of New Haven on the latest.

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