22:18 13 April 2024
Oil Prices at Six-Month High Due to Escalation in the Middle East
Oil prices have reached their highest level since October 2023, due to an expected attack by Iran on Israel. The Polish Ministry of Foreign Affairs has warned citizens against traveling to Lebanon, Israel and the Palestinian territories.
As reported by Bloomberg, oil has reached its highest level since October 2023. This is due to an attack expected by the US from Iran on Israel. The price of Brent Crude reached over $92 a barrel on Friday before falliing to around $90.75.
Moreover, as we could read on Friday, Bloomberg reported, based on sources in the US intelligence services, that "a major missile or drone attack" on military and government targets in Israel by Iran is "imminent". It is more a question of "when" rather than "if". The attack could indeed take place "within the next 48 hours".
The expected escalation is linked to the Israeli bombing of Iran's diplomatic mission in Damascus in early April. The commanders of the Revolutionary Guards and the heads of Tehran's foreign secret operations were killed.
(money.pl)
