Crude oil prices rose on continued geopolitical tensions following Iran's 200-missile barrage on Israel.
Crude oil prices rose on continued geopolitical tensions following Iran ’s 200-missile barrage on Israel . Since the late Tuesday attack, Israel i ground troops have clashed with Hezbollah in southern Lebanon, with Israel i Prime Minister Benjamin Netanyahu vowing revenge and sparking fears of a full-blown war. Seven Israel i troops were killed during fighting in southern Lebanon on Wednesday, the Israel Defense Forces said in a statement.
On Wednesday, October 2, at 1607 a.m. ET, Brent crude was trading up 1.56%, at $74.71 per barrel, while West Texas Intermediate WTI was trading up 1.66% at $70.99, just making it past the $70 mark. However, oil prices could soar much higher if Israel makes good on its threat to target Iranian oil and gas infrastructure in retaliation.
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