Oil jumps almost 7% after Israel’s strikes on Iran

Oil prices jumped almost 7% on Friday to multi-month highs after Israel launched strikes against Iran, sparking Iranian retaliation and raising worries about a disruption in Middle East oil supplies.

Brent crude futures were up $4.57, or around 6.59%, to $73.93 a barrel at 1352 GMT, after hitting an intraday high of $78.50, the highest since January 27.

U.S. West Texas Intermediate crude was up $4.53, or 6.66%, at $72.57, touching its highest since January 21 at $77.62 earlier in the session.

Click here to read the full article
Source: Oil & Gas 360

—

If you have any questions or thoughts about the topic, feel free to contact us here or leave a comment below.