Following Israel's overnight attacks on Iran, significant tensions have emerged in the Middle East, prompting a sharp rise in oil prices and heightened investor anxiety. Brent crude soared over 10%, driven by fears of supply disruptions due to the escalating conflict. Analysts predict oil could reach as much as $90-$100 per barrel if the situation worsens. While Israel prepares for extended military operations, Iran has retaliated with drone attacks and could escalate further, leading to a potential widening of the conflict.
"The attacks, a major escalation of tensions in the Middle East, have sent investors dashing into safe-haven assets, fearing it could spiral into a wider conflict."
"Ipek Ozkardeskaya suggests that oil could push higher, perhaps to $90-$100 per barrel, with worries that supplies from the region could be disrupted."
Read at www.theguardian.com
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