The U.S. crude oil price benchmark, West Texas Intermediate, fell 8% to less than $68 a barrel, the lowest level since last week. The global Brent crude price benchmark likewise fell about 8%. Major stock indexes ended the day in positive territory.

President Trump warned American oil producers Monday that he was watching closely for a crude price spike as the Middle East appeared close to a regional war, and he urged the Energy Department to “drill,

Global crude oil prices are now lower than they were before Israel attacked Iran earlier this month. A price spike did occur, but it was short-lived — unlike oil crises of the past.