Oil prices could rise above $80 a barrel within days, analysts have warned, amid reports that Israel will attack Iran within days and could strike oil facilities or even nuclear sites. The Israeli response could include targeted assassinations as well as air strikes, Israeli officials told the Axios news website. Brent crude oil prices have surged from as low as $69 this week to as high as $76.
14 today following Iran’s rocket attack on Israel. Fawad Razaqzada, market analyst at City Index, said: It is all about Middle East conflict now, when it comes to oil prices. The extent of Israel’s potential response to Iran will influence how much further geopolitical risk markets are likely to factor in.
Crude oil could rise another $5 in the next few days if we see further escalation in the conflict. While markets await response from Jerusalem, prices are likely to maintain much of Tuesday’s gains. 06:08 PM BST Signing off.
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The Markets blog will be back in the morning from around 7am. But you can keep up-to-date with . 05:57 PM BST Markets stable as investors mull Israel’s next steps MSCI’s global equities index was up very slightly today, as investors anxiously watched to see how Israel would respond to Iran’s missile attack yesterday.
Oil prices are up 0.2pc after climbing more than 3.5pc earlier today, and the dollar rose by 0.
4pc against a basket of major currencies. Jay Hatfield, portfolio manager at InfraCap, said: Sentiment is dominat.