Oil jumps as Iran increases rhetoric against Israel

Oil prices rise while US stocks fall and Iran’s rhetoric against Israel intensifies.

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The Israeli-Hamas conflict prompted Iran to seek an embargo on Israel, and as a result, US stocks fell, indicating a rise in demand for crude oil, which caused oil prices to soar on Wednesday. Crude oil for Brent (BZ=F) surged by about 2%, staying above $91 per barrel. The price of West Texas Intermediate (CL=F) … Read more

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