Oil rallies on report Iran is planning Israel attack via proxies
Fri, Nov 1, 2024 9:45 AM

Oil rallies on report Iran is planning Israel attack via proxies

A Flip by Avya Verma
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Oil jumped after a report that Iran could be preparing to attack Israel from Iraqi territory in the coming days, jolting the market’s attention back to a potential flare-up of Middle East hostilities. Brent surged as much as 2% to trade above $74 a barrel on Friday, while West Texas Intermediate rallied toward $71. Iran is planning a strike through militias it backs in Iraq.

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