The price of U.S. crude oil falls below $74 per barrel following a selloff.

• The rally against the possibility of a wider war in the Middle East has slowed down due to uncertainty about how Israel will respond to Iran's ballistic missile attack from last week.

On Wednesday, crude oil futures decreased by over 4% and continued to decline, reaching a lower price.

The rally sparked by the threat of a broader Middle East conflict has slowed down due to uncertainty about how Israel will respond to Iran's ballistic missile attack last week. Additionally, the lack of new economic stimulus measures announced by Chinese policymakers during a press conference this week helped to keep energy prices stable.

If an Israeli strike disrupts Iranian crude oil production, Goldman Sachs predicts that the global benchmark Brent will increase by $10 to $20 per barrel, despite falling prices.

Here are Wednesday's energy prices at around 8:02 a.m. ET:

• The November contract price for crude oil is $73.38 per barrel, which represents a 19 cent decrease or 0.26% drop. Despite this, U.S. crude oil has experienced a yearly gain of over 2%.
• The December contract price of $77.02 per barrel represents a 16-cent decrease, or 0.21%, compared to the year-to-date global benchmark.
• The price of gasoline in November was $2.0607 per gallon, which represents a 0.36% decrease compared to the previous month. To date in the year, gasoline prices have dropped by almost 2%.
• The November contract price for gas is $2.695 per thousand cubic feet, which represents a 1.39% decrease. To date, gas has been performing well, with a 7% increase compared to the previous year.