Iran, Israel and oil prices
Digest more
Top News
Overview
Event details
Asian shares rose Monday and oil prices extended gains on worries that escalating Iran-Israel tensions could disrupt the flow of crude around the world. U.S. benchmark crude oil added 71 cents to $73.
Ukrainian President Volodymyr Zelenskyy says rising global oil prices following Israeli strikes on Iran will strengthen Russia by increasing its oil revenues, aiding its war effort in Ukraine.
Oil prices leaped, and stocks slumped on worries that escalating violence following Israel’s attack on Iranian nuclear and military targets could damage the flow of crude around the world, along with the global economy.
Oil futures soared in electronic trade late Thursday after Israel's attack on Iran, with West Texas Intermediate crude, the U.S. benchmark, up nearly 10% in electronic trade on the New York Mercantile Exchange.