City Index2 Oct 2024 18:23
"It is all about Middle East conflict now, when it comes to oil prices," said Fawad Razaqzada, analyst at City Index and Forex.com.
"The extent of Israel's potential response to Iran will influence how much further geopolitical risk markets are likely to factor in," he said.
"If Israel lures in the US in its fight, or responds with an even bigger attack this time, then watch out for oil prices to potentially sky rocket," Razaqzada added today.