Oil prices increase after Israel runs air strikes against Iran

Raw futures jumped over $ 5 per barrel on Friday morning after Israel launched air strikes against Iran without US support, provoking fears among investors that the conflict may spread to disrupt oil supplies to the Middle East.

Thehe US Western Texas Intermediate The contract, which expires in July, is last by 7.95%, compared to $ 73.45 per barrel by 8:06 am ET. Global indicator Brant The futures delivery contract in August increased 7.27% to $ 74.40 a barrel.

Israel launched a “purposeful military operation” against Iran’s nuclear and ballistic missile program, said in circulation. Israel hit the main Iran enrichment object in Nathan, its leading nuclear scientists and hit the heart of his ballistic missile program, Netanyahu said. The air strikes also killed senior members of the Iranian military.

“This operation will last as many days as it takes to eliminate this threat,” Netanyahu said.

The International Atomic Energy Agency said there was no increase in radiation levels in the place of Nathan after an attack from Friday morning until the ISFAHAN nuclear was affected.

US Secretary of State Marco Rubio said Israel has taken “one -sided action against Iran” without US support. Rubio warned Iran not to focus on US interests.

“We are not involved in strikes against Iran and our main priority is the protection of US forces in the region,” Rubio said in a statement. “Israel advises us that they believe that this action was necessary for its self -defense.”

President Donald Trump said Iran had paid the price for not making a deal for his nuclear program up to 60 days.

“They had to do it!” Trump said in a publication on his Truth Social Social Media Platform. “Today is day 61. I told them what to do, but they just couldn’t get there. Now they have a second chance!”

“MSEA actively monitors the impact on the oil markets from the situation in Israel-Iran. Markets are delivered well today, but we are ready to act if necessary,” IEA Executive Director Fatih Birol saidS

Oil investors are now concerned that Iran will take revenge by attacking either Israeli or American goals, leading to a major military escalation and a potential interruption of oil supplies, said Andy Lipow, President of Lipow Oil Associates.

“Iran knows perfectly well that President Donald Trump is focused on lower energy prices,” Lipou told CNBC, adding that Iran’s actions affecting oil supplies in the Middle East, and as a result, they are raising gas prices and the US president.

The heating tension in the Middle East caused fears that Iran could use the Hormuz Strait, a key position connecting the Gulf and the Gulf Oman, through Who passes the fifth of the World Petrol DeliveryS

Although the Israeli operation is more significant than what has been observed for a long time, there has been no direct targeting of Iranian production facilities or exports, which means that Tehran can continue to export oil, said Ellen Wald, co-founder of Washington IVY Advisors.

“For Iran, there really is no net benefit to trying to prevent the passage of oil through the Hormuz Strait,” Wald said, explaining that Iran would be revenge if he tried to do so.

Iran’s ability to completely block the physically shed of hormuz is also controversial. As the vessels pass through Iranian waters, they can still be diverted into the UAE and Omani waters, Wald said. “Although there will be a period of interruption, it is not likely that it will last so long.”

In addition, Wald warned that the leap of oil prices from closing the Hormuz Strait could exert economic pressure from Iran’s most large client in Iran: China.

“China does not want the flow of oil from the Persian Gulf to be interrupted in any way and China does not want the price of oil to rise. So they will bring the full weight to their economic power to bear to Iran,” she added.

“I don’t think we look at something as heavy as when Russia invaded Ukraine. It’s just not as significant a threat to oil supplies,” she said.