China finance minister's failure to announce additional stimulus causes crude oil prices to drop over 2%.

• The world's second-largest economy is expected to be strengthened by more robust stimulus in China, as traders have been banking on it.
• In anticipation of a retaliatory strike by Israel against Iran, the market continues to monitor the Middle East.

On Monday, the price of crude oil decreased by over 2% following a press conference given by China's finance minister, which failed to meet the expectations of the market.

The market for months has been weighed down by soft demand in the world's largest crude importer, while traders have been banking on more robust stimulus in China to boost the world's second-largest economy.

According to Tamas Varga, an analyst at oil broker PVM, China's monetary stimulus measures were unsuccessful in stimulating the economy, and the finance ministry's weekend pledge to borrow more was lacking in reassuring and convincing details.

Here are Monday's energy prices:

• U.S. crude oil has lost approximately 2.16% in November, with the price per barrel decreasing from $75.56 to $73.93. However, year to date, the U.S. crude oil market has experienced a gain of about 3%.
• The December contract price per barrel is $75.84, a decrease of $1.60 or 2.02%. Despite this, the global benchmark for the year remains relatively stable.
• The price of gasoline in November was $2.1044 per gallon, which represents a 2.19% decrease compared to the previous month. Despite this slight decrease, the year-to-date change in gasoline prices has been minimal.
• The November contract price for gas is $2.572 per thousand cubic feet, which represents a 2.28% decrease. However, year to date, gas consumption has exceeded expectations by more than 2%.

In response to the recent attack on its embassy in Tehran, Iran has threatened to retaliate against Israel. Meanwhile, the market is closely watching the Middle East, anticipating a possible retaliatory strike by Israel against Iran. According to NBC News, U.S. officials have revealed that Israel has identified specific targets for its attack, including military and energy infrastructure.