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 performative missile attack on a U.S. military base in Qatar, it did not target oil facilities. 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 was down 7 per cent Monday, at $68.76 (U.S.) a barrel. Analysts contend that if Iran closes the Strait of Hormuz, leading to a shortage of oil from the Middle East, it could increase China's appetite for oil from other markets, including Canada. The S&P/TSX Capped Energy Index fell more than 3 per cent Monday, with Suncor, Cenovus and Canadian Natural Resources all down sharply.