Brent Crude Oil Price Rebounds as Iran Threatens Attack on Israel: Bloomberg Reports

Bloomberg: “Expect an attack within days”

Israel: Ready to attack Iran

Brent crude oil price trend

International oil prices rebounded three days after news of Iran’s imminent attack on Israel. Brent crude oil recovered to $90 again.

On the 10th (local time) at the New York Mercantile Exchange, West Texas Intermediate (WTI) crude oil for delivery in May ended trading at $86.21 per barrel, up 1.15%.

On this day, the price of Brent crude oil for June delivery rose 1.2% to close at $90.56 a barrel on the ICE Futures Exchange, again surpassing $90.

Oil prices rose in three trading days.

On this day, oil prices soared as news spread that an Iranian attack on Israel was imminent.

Bloomberg, citing US intelligence officials, said the US and its allies believe Iran will soon attack Israel’s government and military facilities with missiles or drones. He added that the attack could happen within days.

According to US and Israeli intelligence, an Iranian attack was seen as a matter of time, not if.

Iran’s Supreme Leader, Ayatollah Ali Khamenei, predicted retaliation, saying, “A country’s embassies and consulates are its territory. If they attacked our consulate, it is the same as attacking our territory.”

A senior Iranian Revolutionary Guard officer warned, “The Strait of Hormuz could be blocked.” The Strait of Hormuz is the world’s largest crude oil shipping hub.

Israeli Foreign Minister Israel Katt tagged Iran’s Supreme Leader Ayatollah Ali Khamenei in X and said, “If Iran attacks its territory, Israel will attack Iran in response.”

Khamenei had threatened retaliation against Israel after an Israeli missile attack on the Iranian consulate in Damascus, Syria, killed seven Iranian military personnel last week.

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