Israel's military strikes against Iran are raising concerns that Tehran could retaliate by closing the Strait of Hormuz, potentially disrupting oil and gas supplies and unleashing a fresh wave of inflation across the globe.
Oil prices surged after the massive Israeli attacks on Iran because of fears that the violence will continue (which is likely) and spread (less clear). Israel has been emboldened by its success against Hezbollah and Hamas, as well as earlier strikes against Iran's military and especially air defense systems.
Brent crude prices hit the highest level since January after IDF strikes on Iran prompts fears of retaliation that could impact global energy supplies.
Crude oil surges in the biggest shock since 2020. Traders pivot fast as energy stocks, tankers, and LNG plays emerge as top winners.
Oil prices surged past $70 per barrel on Friday, following heightened tensions in the Middle East as Israel struck Iran overnight with what it described as strategic strikes on Tehran's nuclear capabilities and leadership.
Richard Bronze, Co-Founder & Head of Geopolitics at Energy Aspects, says oil markets are in wait-and-see mode as risks grow, and OPEC may fill gaps but with reduced spare capacity.
Markets today face sharp losses as oil news drives risk-off moves amid Middle East tensions and U.S. consumer sentiment data.
Oil prices jump $10 in three days as geopolitical tensions threaten energy flows through key shipping lanes like the Strait of Hormuz.
Oil prices forecast a possible surge to $130+ as Strait of Hormuz threats and Middle East escalation loom over global crude supply and OPEC output.
DAX under pressure as inflation fears grow on rising oil prices. Market sentiment hinges on ECB signals and Middle East developments.
Oil surged after Israel carried out waves of military strikes against Iran's nuclear program and ballistic-missile sites on Friday morning. Bloomberg's Stephen Stapczynski reports.
Hang Seng dips as Israeli strikes on Iran spark oil rally and global risk aversion. EV and tech stocks lead losses amid geopolitical jitters.