Oil prices increased after geopolitical tensions between Iran and Israel, highlighting the fragility of global energy supply and market reactions to such crises.
Despite an unprecedented attack from Iran on Israel, analysts suggest oil supply remains stable unless a wider regional conflict arises, affecting future production.
Israeli officials are considering targeting Iranian oil facilities in retaliation, which could escalate tensions and potentially disrupt global oil supply and raise prices.
The Biden administration may intervene to prevent further escalation in the Middle East as higher oil prices could lead to renewed inflation concerns during the presidential race.
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