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Crude Oil - Oil prices jump more than 2% as Middle East tensions escalate
02-10-2024 00:08
Oil prices climbed more than 2% on Wednesday on rising concerns that Middle East tensions could escalate, potentially disrupting crude output from the region, following Iran's biggest ever military blow against Israel.
Crude rally ‘knee-jerk’ reaction of Iran missile attack on Israel, prices to stabilise if war doesn't escalate: Experts
The sharp jump in crude oil prices is expected to be short-lived and subside eventually if the war does not spread widely in the Middle-East, according to energy experts.