Conflict Between Israel and Iran Adds to Oil Market Volatility

Published On Oct 11, 2024, 5:03 AM

The ongoing conflict between Israel and Iran is creating volatility in the oil markets. Recent missile strikes from Iran have pushed Brent crude prices up by about 15% to over $81 a barrel, although prices remain below July levels due to other factors such as weak demand in China and increased production elsewhere. Analysts warn that further military action could disrupt oil supplies significantly, potentially driving prices even higher.