U.S. crude oil breaks $78 per barrel as fears of war between Iran and Israel grow

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U.S. crude oil breaks $78 per barrel as fears of war between Iran and Israel grow
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Iran has ordered a direct strike against Israel, according to the New York Times.

Crude oil futures extended a rally as Iran has vowed to avenge the assassination of a top Hamas leader in Tehran.U.S. crude oil futures broke above $78 per barrel Thursday on fears that Israel and Iran are heading to a direct conflict after the assassination of a Hamas leader in Tehran.

Boxer who had gender test issue wins first Olympic fight in Paris when opponent quits after 46 seconds "The assassination of the Hamas political leader Ismail Haniyeh overnight in Tehran moves this conflict appreciably up the escalatory ladder and edges the region closer to a wider war," Helima Croft, head of global commodity strategy at RBC Capital Markets, told clients in a note Wednesday.

Iran and Israel traded direct strikes in April, pushing oil prices to the highest point of the year, but they enemies ultimately pulled back from a full-scale war.At the time of writing, we are not certain whether the same containment dynamics will prevail, especially given that this current chapter involves Hamas, Hezbollah, as well as Iran," Croft wrote.

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