Oil Prices Jump Sharply Due To Preparations For New Strike On Israel
3- 1.11.2024, 12:55
- 4,220
Iran may attack in the coming days.
Oil prices continued to rise on Friday, November 1, rising by more than $1 per barrel. This was reported by Reuters.
Brent crude futures rose by $1.39, or 1.9%, to $74.20 per barrel. At the same time, American WTI (West Texas Intermediate) rose in price by $1.44, or 2.1%, to $70.70.
Prices increased amid reports from Israeli intelligence, which believes that Iran may attack Israel in the coming days. The strike is allegedly planned to be carried out from Iraqi territory. A large number of ballistic missiles and UAVs may be used for it.
At the same time, analysts note that both the Islamic Republic and Israel do not want a full-scale war to start. This means that the new blow will most likely be limited.
Oil prices were also affected by expectations regarding the decision of OPEC+ countries to postpone the planned increase in production of “black gold” in December. This step was allegedly taken due to concerns about the relatively low demand for oil.