The price of U.S. crude oil drops below $71 a barrel, extending the decline.

• The price of crude oil has decreased due to the diminishing of concerns about an oil supply interruption in the Middle East.

On Wednesday, U.S. crude futures decreased and traded below $71 per barrel, following a sharp decline in the previous session due to news that Israel will not attack Iran's oil facilities.

On Tuesday, the U.S. benchmark fell more than 4%, following news that Israel would restrict its response to military targets in Iran, according to senior Biden administration officials, as reported by NBC News.

The gains made in crude oil prices following Iran's Oct. 1 ballistic missile attack on Israel have been mostly lost, as concerns about an oil supply disruption in the Middle East have lessened.

Here are Wednesday's energy prices:

• The November contract price for crude oil is $70.28 per barrel, which represents a 30-cent decrease or 0.43% drop. To date, the US has experienced a nearly 2% decline in crude oil prices.
• The December contract price for oil is $73.94 per barrel, which is a decrease of 31 cents or 0.42%. To date, the global benchmark has fallen approximately 4% in the year.
• The price of gasoline in November remained relatively stable at $2.0378 per gallon. So far this year, there has been a slight decrease in gasoline prices by approximately 3%.
• The November contract price for gas is $2.464 per thousand cubic feet, which represents a 1.36% decrease compared to the previous month. To date, gas prices have decreased by approximately 2% throughout the year.