Crude oil futures rose Friday as Israel is reportedly preparing for a direct attack by Iran this weekend, in what would be the biggest escalation of Middle East tensions since the start of the Israel-Hamas war last October.Israel is preparing for a direct attack by Iran on southern or northern Israel as soon as Friday or Saturday, atold The Wall Street Journal.
Iran's Supreme Leader Ayatollah Ali Khamenei has vowed to punish Israel for a missile attack on the Islamic Republic's consulate in Damascus, Syria last week that killed seven Iranian military officials. Oil prices rallied after the consulate attack, though futures are down slightly this week as inflation data and U.S. crude stockpiles have weighed on the market.
Bloomberg News reported earlier this week the U.S .and its allies see an attack by Iran or its proxies on military and government targets in Israel as"imminent."if Iran directly attacks Israel, according Bob McNally, president of Rapidan Energy and a former senior energy official in the Bush administration. If the escalation leads to a disruption in the Strait of Hormuz, a critical trade route for oil, prices could surge to $120 or $130 a barrel, McNally told CNBC.
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Crude oil futures rise as Israel threatens to attack IranCrude oil futures rose Wednesday after two days of losses as Israel threatened to attack Iran if the Islamic Republic strikes Israel directly. Oil prices pulled back after the consumer price index rose 0.4% for March and 3.5% over the previous year, compared with expected gains of 0.3% and 3.4%, respectively. Israel warned OPEC member Iran Wednesday it would attack the Islamic Republic if Tehran strikes Israel."If Iran attacks from its territory, Israel will react and attack Iran," Israeli Foreign Minister Israel Katz said on theEnergy, the new momentum trade? Why the sector’s strong gains can increase from hereMorgan Stanley says the catch-up trade in energy can continue and names its top picks to play JPMorgan says oil could rise to nearly $100 a barrel on Russia’s ‘surprising’ actions ahead of U.S. election Khamenei has threatened to punish Israel after Iran's consulate in Damascus, Syria, was destroyed in a missile attack last week, killing seven Iranian military officials
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