Oil prices surge over 2% after Iran launches ballistic missiles at Israel, raising supply disruption concerns.
Brent crude rose 2.51% to $95.43 a barrel, while West Texas Intermediate gained 2.34% to $92.66, following Iran’s missile attack on Israel. The strike marks the first direct Iranian assault on Israel since an April ceasefire, escalating regional tensions.
Prior to the attack, oil prices had stabilized near $93 for Brent and $89 for WTI amid fragile U.S.-Iran negotiations. The latest escalation threatens to derail talks, adding to supply risks in the Middle East.
Markets reacted swiftly, with energy futures climbing as traders priced in heightened geopolitical uncertainty.