Oil prices jumped following a Bloomberg reports on potential the Middle East escalation. According to media reports, United States see a retaliatory missile strikes on Israel by Iran and its proxies in the region as imminent.
While markets sighted in a relief at the beginning of this week due to Iran not retaliating for an Israeli strike on a consulate in Damascus, the risk has not faded and Iran repeated that it will retaliate. US intelligence sees retaliation as imminent. This would be a big escalation as Israeli officials have already said that they have means to strike targets in Iran. A direct clash between Iran and Israel will have a massive consequence for the Middle East, as well as global oil markets.
Start investing today or test a free demo
Open account Try demo Download mobile app Download mobile appOil prices jumped around 1% on the news, while oil moved around 0.6% higher. Japanese yen also gain following Bloomber report.
Source: xStation5
This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.