Oil prices have risen sharply due to a possible Iranian attack on Israel
Kyiv • UNN
Brent and WTI crude oil rose by more than $1 due to reports that Iran is preparing to strike Israel from Iraq. Prices were also affected by expectations that OPEC+ would postpone production cuts.
Oil prices continued to rise on Friday, rising by more than $1 per barrel following reports that Iran is preparing a retaliatory strike against Israel from Iraq in the coming days. This is reported by UNN with reference to Reuters.
Details
Brent crude oil futures rose by $1.39, or 1.9%, to $74.20 per barrel. The price of US West Texas Intermediate rose by $1.44, or 2.1%, to $70.70.
Prices have risen amid reports from Israeli intelligence that Iran could attack Israel from Iraq in the coming days, possibly before the November 5 US presidential election, Axios reported on Thursday, citing two unnamed Israeli sources. It could use a large number of ballistic missiles and drones.
Prices were also affected, as noted, by expectations that OPEC+ may delay its planned December oil output increase by a month or more, four sources close to the matter told Reuters on Wednesday, citing concerns about low oil demand and growing supply. A decision could be made as early as next week, two of them said.
Addendum
Russia's marine oil exports increased by 120,000 barrels per day for the second week in a row. Total exports reached 24.79 million barrels, with a four-week average of 3.41 million barrels per day.
