Concerns about Iran's anticipated attack on Israel pushed oil prices higher late last week.
Oil prices are expected to rise when markets open on Monday following Iran's attack on Israel over the weekend after they reached a six-month high on Friday, according to analysts who noted that Israel's response Iran launched over 300 drones and missiles at Israel from Iran, which the Israeli Defense Forces repelled the bulk of with assistance from the U.S., France, Jordan and the United Kingdom.
READ MORE: Why Iran wants to attack Israel: The history of the conflict explainedLeaders of the Group of Seven major economies condemned Iran's attack and reaffirmed the G7's commitment to Israel's security during a meeting on Sunday about the situation, the White House said in a post on X. A senior Biden administration official said the G7 leaders discussed sanctions against Iran.
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Asian Shares Slump and Gold Prices Rise as Iran's Retaliatory Attack on Israel Raises ConcernsAsian shares slumped and gold prices rose on Monday as risk sentiment took a hit after Iran's retaliatory attack on Israel stoked fears of a wider regional conflict and kept traders on edge.
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World Leaders Express Concerns Over Iran's Attacks on IsraelWorld leaders, including the United States, Germany, France, and Britain, express concerns over Iran's wave of missile and drone attacks against Israel, stating that it could further destabilize the Middle East. They reaffirm their support for Israel and condemn the attacks, with President Biden calling U.S. support for Israeli security 'ironclad'. The leaders plan to coordinate a response to the attacks.
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