Iran’s missile attack on Israel is testing widely held bearish views on oil prices, with the strike raising concerns over potential supply disruptions from the Middle East should tensions increase further.
Prime Minister Benjamin Netanyahu has threatened to retaliate to the barrage, and there’s a risk that could spur a tit-for-tat escalation. Brent crude surged more than 5% following the assault Tuesday, before paring some of those gains. Oil rose again Wednesday to trade above $74 a barrel.
Source: Bloomberg
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