ENERGY MARKETS - Crude oil spikes 3,0 pct. on fears of tension escalation in Middle East
Istanbul, October 1 (Hibya) - U.S. crude oil prices rose nearly 3% on Tuesday as the U.S. warned of a possible imminent attack by Iran against Israel.
West Texas Intermediate November contract: $70.22 per barrel, up $2.01, or 2.95%. Brent December contract: $73.65 per barrel, up $1.95, or 2.72%.
“We are actively supporting defensive preparations to defend Israel against this attack. A direct military attack from Iran against Israel will carry severe consequences for Iran,” a senior White House official said on Tuesday.
Tensions in the Middle East have dramatically escalated over the past week, as Israel has pounded the Iran-backed militia Hezbollah with airstrikes, killing the group’s leader, Hassan Nasrallah. The Netanyahu government dispatched ground forces into southern Lebanon on Tuesday.
Albania News Agency
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