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Oil surges 2% as US says Iran preparing to attack Israel

Oil surges 2% as US says Iran preparing to attack Israel
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October 01, 2024 (MLN): Oil surged after the US said Iran is preparing to launch a ballistic missile attack against Israel, widening the conflict in the Middle East.

Global benchmark Brent jumped over 2% above $73 a barrel as of 06:58pm on Tuesday. The global crude benchmark plunged almost 17% in the third quarter of 2024.

While West Texas Intermediate (WTI) soared nearly 3% to top $70 a barrel.

The US is supporting preparations to defend Israel against the possible attack, which would carry severe consequences for Iran, Bloomberg cited a senior White House official as saying.

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Posted on: 2024-10-01T18:59:24+05:00