Oil prices surge over 3% as Israel, US vow retaliation for Iran attack

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LONDON :Oil prices climbed more than 3 per cent on Wednesday as Israel and the United States vowed retribution over Iran's biggest ever direct attack on its regional adversary, firing more than 180 ballistic missiles.

"Any suggestion that production hikes will proceed could offset concerns of supply disruptions in the Middle East," ANZ analysts said.

That has sent oil prices surging, with Brent futures up $2.26, or 3.07 per cent, to $75.82 a barrel.U.S.

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Category: EconomyBusiness

Markets: SingaporeIsraelLebanonSaudi ArabiaUnited States

Topics: Attack Saudi Cent Prices Israel Israeli Production Output Iran Group Wednesday

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-02 @ 06:58:11 (21 hours ago)

News Timezone: GMT +8:00

News Source URL: channelnewsasia.com

Language: English

Article Length: 500 words

Reading Time: 3 minutes read

Sentences: 22 lines

Sentence Length: 23 words per sentence (average)

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Copyright Owner: © Channel News Asia

News ID: 22851434

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Official Website: channelnewsasia.com

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