Oil prices surged early on Friday morning on reports of an Israeli attack on Iran, but prices retreated after Iran claimed there hadn't been an attack.
Oil prices gave up nearly all of early Friday’s gains after an Iran ian official told Reuters that there hadn’t been a missile attack against Iran . Oil surged by as much as $3 per barrel in Asian trade early on Friday after a U.S. official told ABC News today that Israel launched missile strikes against Iran in the early morning hours today. After briefly spiking to above $90 per barrel early on Friday in Asian trade, Brent fell back to $87.10 per barrel in the morning in Europe.
However, hours after unconfirmed reports of an Israeli attack first emerged, Reuters quoted an Iranian official as saying that there was no missile strike carried out against Iran. The explosions that were heard in the large Iranian city of Isfahan were the result of the activation of the air defense systems of Iran, the official told Reuters. Overall, Iran appears to downplay the event, with most official comments and news reports not mentioning Israel, Reuters notes.
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