Iran's missile attack on Israel and the promise of retaliation have pushed oil prices higher due to fears of a wider war in the Middle East.
Crude oil prices rose further today on fears that the war in the Middle East is going to get bigger and more intense after Iran fired missiles at Israel , with WTI still above $70 and Brent crude close to $75 per barrel. Tehran said early today that the attack was over—unless there was further provocation—while Israel essentially signaled it would guarantee such “provocation” as Prime Minister Benjamin Netanyahu vowing Iran “will pay” for the attack.
In that scenario, our response will be stronger and more powerful.” “Israel's enablers now have a heightened responsibility to rein in the warmongers in Tel Aviv instead of getting involved in their folly,” Araqchi added, also noting in the statement that Iran’s attack was an act of “self-defense under Article 51 of the UN Charter, targeting solely military & security sites in charge of genocide in Gaza and Lebanon.
Israel Oil Prices War Missiles Retaliation Ceasefire UN Brent WTI
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