Tensions with Iran Shake Markets: Oil Prices Surge After Reported US Strike

In depth

Oil prices rose about half a percent during trading in Asia, following reports of a US strike on Kishm Island in Iran. According to Arutz 7, the price of a Brent barrel reached $105.25, and the price of an American barrel rose to $96.93.

The gains were recorded after oil prices fell sharply yesterday, amid contacts between the United States and Iran aimed at reaching an agreement, and against the backdrop of concern about further escalation in the area of the Strait of Hormuz. According to Channel 14, the strike and concern about renewed fighting pushed oil prices up worldwide, and the price of a Brent barrel crossed the $106 mark.

According to Channel 14, from Thursday the price of gasoline in Israel will rise by 50 agorot per liter.