Oil prices are on pace for a weekly gain as tensions boil in the Middle East with Israel closing embassies over threats from Iran. June contract gained 14 cents to $90.79 a barrel. U.S. crude is up 4.2% for the week while the global benchmark has added 3.9%. Israel has closed 28 embassies around the world amid fears of retaliatory strikes from Iran, according to multiple reports in Israeli media. Iran has blamed Israel for a missile strike on its consulate in Damascus which killed a top Iranian general. Israel has not claimed responsibility for the strike. Tamas Varga, analyst with oil broker PVM, said the geopolitical temperature has climbed to levels not seen since the Oct. 7 Hamas attack on Israeli civilians
Oil prices are on pace for a weekly gain as tensions boil in the Middle East with Israel closing embassies over threats from Iran . June contract gained 14 cents to $90.79 a barrel. U.S. crude is up 4.2% for the week while the global benchmark has added 3.9%. Israel has closed 28 embassies around the world amid fears of retaliatory strikes from Iran , according to multiple reports in Israel i media.
Iran has blamed Israel for a missile strike on its consulate in Damascus which killed a top Iranian general. Israel has not claimed responsibility for the strike. Tamas Varga, analyst with oil broker PVM, said the geopolitical temperature has climbed to levels not seen since the Oct. 7 Hamas attack on Israeli civilian
Oil Prices Israel Embassies Threats Iran Tensions Middle East
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