According to WPB, a sharp rise in global oil prices has followed a dramatic escalation in military tensions between Iran and Israel. Israeli forces have launched a series of well-coordinated airstrikes against sites linked to Iran’s nuclear program, a move Israeli officials describe as essential to preventing Tehran from acquiring nuclear weapons capability. Military sources in Israel confirmed that numerous fighter jets struck several nuclear-related facilities across different parts of Iran.
The strikes have triggered immediate disruptions in global financial markets. Brent crude oil experienced a sudden spike of more than 7%, marking one of its most significant weekly gains in recent years. Investors reacted by shifting capital into traditionally safe assets, such as gold and government bonds, amid growing fears of a broader regional conflict that could threaten a major portion of global oil supply.
Israel’s government has framed the operation as a preemptive defensive strategy. Prime Minister Benjamin Netanyahu addressed the nation following the strikes, calling the operation a “defining point” in the country’s strategic posture. The Israeli military has since elevated its alert level and closed national airspace in anticipation of possible retaliation from Iran.
Codenamed Rising Lion, the military campaign reportedly focused on Iran’s principal uranium enrichment centers, including the facility at Natanz, as well as individuals and infrastructure associated with Iran’s nuclear weapons development and ballistic missile programs. Prime Minister Netanyahu emphasized that the mission was designed to neutralize what he called “the world’s most dangerous weapons in the hands of the world’s most dangerous regime.” He further indicated that the campaign would continue “as long as necessary.”
International reactions have begun to surface. U.S. Secretary of State Marco Rubio stated that the United States was not involved in the military action, underscoring Israel’s independent decision to conduct the operation based on national security considerations.
As the geopolitical crisis deepens, oil markets remain highly sensitive. Economic analysts, including those at JPMorgan, warn that if hostilities expand to strategic transit points like the Strait of Hormuz—through which a substantial share of global oil flows—prices could escalate to $120 per barrel or beyond, significantly affecting global supply chains and economic stability.
By Bitumenmag
Oil, Petroleum, Crude
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