Oil prices react to rising tensions in the Middle East. There are fears that the conflict in the region could worsen.
World oil prices rose sharply for the second day in a row amid geopolitical risks in the Middle East. This was confirmed by the trading results on Wednesday, October 2.
Thus, December futures for Brent oil rose by $1.96 (2.66%) on the London ICE Futures exchange to $75.52 per barrel.
November futures for WTI oil rose in electronic trading on the New York Mercantile Exchange (NYMEX) by $2.00 (2.86%) to $71.83 a barrel.
As written by Western agencies, oil prices are responding to the escalation of tensions in the Middle East. There are fears that the conflict in the region could escalate and lead to disruptions in oil production after Iran launched its largest ever missile attack on Israel on the night of October 1.
Israeli Prime Minister Benjamin Netanyahu called the attack a “huge mistake” and vowed to make Iran pay for it.
And now the media reported that Israel will inflict a significant blow on Iran within a few days, which may be aimed at oil production facilities and other strategic targets.
Source: korrespondent
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