Oil Markets Brace for Disruption After U.S.-Israel Strikes on Iran |
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Energy markets are bracing for disruption after the start of major combat operations by Israel and the United States against Iran, especially because Tehran’s initial reprisals have been much broader than the symbolic strikes it launched against regional targets in the wake of last June’s attacks on its nuclear facilities.
Oil prices had already crept up Friday over fears that the diplomatic track between Iran and the United States was yielding no fruit. Crude jumped almost 3 percent in both New York and London; markets will open Monday and will likely rise sharply at first, particularly if any Iranian response directly impacts regional oil production or transport.
Energy markets are bracing for disruption after the start of major combat operations by Israel and the United States against Iran, especially because Tehran’s initial reprisals have been much broader than the symbolic strikes it launched against regional targets in the wake of last June’s attacks on its nuclear facilities.
Oil prices had already crept........