Israel said Iran struck Iran by dramatically expanding the tension in the Middle East.
Brent Crude’s benchmark prices have risen more than 10%, reaching the highest level since January, and lost some profits.
Merchants feared that the conflict between Iran and Israel could interfere with the supply of energy -rich areas.
The cost of crude oil has all the impacts from the cost of filling the car to the food price of the supermarket.
After the initial jump, oil prices have been slightly relaxed. But Brent Crude was more than 5% higher than the closed price on Thursday and was traded at about $ 70.60 a barrel.
Despite the movements of Friday, oil prices are still 10% lower than the same point last year. They are also far below the peaks that appeared in early 2022 following the invasion of Ukraine in Russia.
Stock prices fell on Friday across Asia and Europe. Japan’s NIKKEI stock index decreased by 0.9%, while the UK’s FTSE 100 index decreased by 0.39%.
The US stock market also ended. Dow Jones’ industrial average decreased by 1.79%, while the S & P 500 fell 0.69%.
So -called “safe shelter” assets such as gold and Swiss francs gained profits. Some investors see these assets as more reliable investments at the time of uncertainty.
The price of gold is the highest for nearly two months, up 1.2% per ounce, up to $ 3,423.30.
Following the attack of Israel, the Israeli Defense Forces (IDF) said that Iran has fired about 100 drones towards this country.
Analysts told the BBC that energy traders will see how much conflicts will be in the future.
Vandana Hari of Vanda Insights told the BBC, “When Israel and Iran hit each other, they may be dismantled as they saw in April and October last year, but are explosive but explosive.
“It can also be a bigger war that interferes with the supply of oil in the Middle East.”
Analysts at Capital Economics said Iran’s petroleum production and export facilities achieve their goals, the price of Brent Crude can jump to about 80- $ 100 per barrel.
However, they added that such prices will increase the production of other oil producers, which will ultimately limit the effects of prices and inflation.
Rad Dennis spokesman Rad Dennis spokesman Rad Dennis said, “It’s too fast.”
“There are two major factors: whether the wholesale fuel prices are increasing in the future and decisively decision to determine a kind of retail store,” he said.
In extreme scenarios, Iran can interfere with millions of barrels of oil a day if Iran aims to infrastructure or delivery in the Hormuz Strait.
Strait is one of the most important shipping routes in the world, and about one fifth of world oil passes.
At one time, dozens of tankers are heading to the Hormuz Strait, just as major oil and gas producers and customers in this region are transporting energy in this area.
Oman and the UAE Gairan and the south, the Hores Music Strait, connects the Gulf of the Gulf.
Saul Kavonic, MST Financial Research, said, “What we see is an early risk response, but the next day, the market should consider where it can be expanded.”
Additional report of Katie Silver
