Oil Prices Jump Sharply Due To Preparations For New Strike On Israel

Iran may attack in the coming days.

Oil prices continued to rise on Friday, November 1, rising by more than $1 per barrel. This was reported by Reuters.

Brent crude futures rose by $1.39, or 1.9%, to $74.20 per barrel. At the same time, American WTI (West Texas Intermediate) rose in price by $1.44, or 2.1%, to $70.70.

Prices increased amid reports from Israeli intelligence, which believes that Iran may attack Israel in the coming days. The strike is allegedly planned to be carried out from Iraqi territory. A large number of ballistic missiles and UAVs may be used for it.

At the same time, analysts note that both the Islamic Republic and Israel do not want a full-scale war to start. This means that the new blow will most likely be limited.

Oil prices were also affected by expectations regarding the decision of OPEC+ countries to postpone the planned increase in production of “black gold” in December. This step was allegedly taken due to concerns about the relatively low demand for oil.

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