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Oil prices spiked on Friday morning following reports of heightened tensions between Iran and Israel, with the possibility of an Iranian attack on Israeli soil looming within the next 24 to 48 hours. The Wall Street Journal, citing American intelligence reports, revealed this development, sending shockwaves through global oil markets. Both the West Texas Intermediate (WTI) and Brent crude oil prices experienced significant jumps, with WTI rising by $2.02 and Brent climbing by $1.78 per barrel by 9:20 a.m. ET. This sharp increase underscores the sensitivity of oil markets to geopolitical turmoil in the Middle East, a region critical to global oil supply.

Oil Prices Surge on Fears of an Imminent Iranian Attack

Oil prices spiked on Friday morning following reports of heightened tensions between Iran and Israel, with the possibility of an Iranian attack on Israeli soil looming within the next 24 to 48 hours. The Wall Street Journal, citing American intelligence reports, revealed this development, sending shockwaves through global oil markets. Both the West Texas Intermediate (WTI) and Brent crude oil prices experienced significant jumps, with WTI rising by $2.02 and Brent climbing by $1.78 per barrel by 9:20 a.m. ET. This sharp increase underscores the sensitivity of oil markets to geopolitical turmoil in the Middle East, a region critical to global oil supply.

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