Brent, WTI down over 4
Israeli PM Netanyahu says willing not to strike Iran oil targets
OPEC, IAE cut global oil demand growth outlook

LONDON, Oct 15 Reuters Oil prices tumbled more than 4 to a near twoweek low on Tuesday due to a weaker demand outlook and after a media report suggested Israel would not strike Iranian oil targets, easing fears of a supply disruption.

Brent crude futures fell 3.29, or 4.3, to 74.17 a barrel at 1312 GMT. West Texas Intermediate futures lost 3.38, or 4.6, hitting 70.45 a barrel.

Both benchmarks had earlier fallen by 4, reaching their lowest since the beginning of October, after settling about 2 lower on Monday.

They are down about 5 so far this week, nearly wiping out cumulative gains made after investors became concerned Israel could strike Iran39;s oil facilities in retaliation for the latter39;s Oct. 1 missile attack.

Israeli Prime Minister Benjamin Netanyahu told the U.S. that Israel is willing to strike Iranian military targets and not nuclear or oil ones, the Washington Post reported late on Monday.

Israel expanded its targets in its war against Hezbollah militants in Lebanon on Monday, killing at least 21 people in an airstrike in the north.

Weakening demand has led to traders withdrawing the 39;war premium39; from prices, said Priyanka Sachdeva, senior market analyst at Phillip Nova.

However, geopolitics still continues to support oil at this level. Without geopolitics in the equation, oil would have tumbled even more,…