Oil-based exchange-traded funds (ETFs) experienced a significant decline, dropping over 4%, following Israel’s recent military strikes on Iran. The strikes, which occurred over the weekend, were reported as “limited” by local media, leading analysts to downplay the potential impact on oil supplies. What Happened: Israel’s military targeted Iranian sites in three provinces on Saturday in response to a ballistic missile attack by Tehran on October 1. According to the Iranian news agency Tasnim, the strikes resulted in the deaths of four soldiers and caused “limited damages,” sparing oil, nuclear…