The Globe and Mail reports in its Tuesday edition that Israeli and U.S. attacks on Iranian cities and nuclear facilities have traders assessing the risk that oil exports from a key Middle Eastern producer could be disrupted. The Globe's Emma Graney and Jeffrey Jones write that on Monday, prices tumbled to preattack levels as that concern eased. The U.S. entered when its military bombed three nuclear sites, but it appeared Monday that Iran may not retaliate by targeting energy exports that flow through the Strait of Hormuz. While Iran launched a retaliatory missile attack on a U.S. military base in Qatar, it did not target oil facilities. Later on Monday, U.S. President Donald Trump announced that Israel and Iran had reached a ceasefire agreement, though neither country immediately confirmed that a deal was in place. Up to 20 million barrels of oil and petroleum products a day pass through the Strait of Hormuz, equal to about a fifth of world demand, and the strait is crucial to Iranian revenue. West Texas Intermediate oil was down 7 per cent on Monday, at $68.76 (U.S.) a barrel. "Ultimately, our take is that mutually assured economic destruction doesn't appear likely," said TD Securities' Daniel Ghali in a note.