Oil stocks surge as crude prices spike amid rising Middle-East tensions

Quick Summary:

The strikes targeted military bases but were largely intercepted by Israel's aerial defences, supported by allies such as the US and the UK.

World powers had been warning for months about a potential “regional escalation” stemming from Israel's war on Gaza, which has resulted in the deaths of approximately 40,000 Palestinians.

Earlier, reports indicated that the Israeli military has confirmed the deaths of eight soldiers, including a team commander, during ground operations in southern Lebanon.

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Category: BusinessFinance

Markets: IndiaIraqIsraelLebanonSaudi Arabia

Topics: Crude oil price today Oil stocks Buzzing stocks Oil companies Petronet LNG Hindustan Oil Exploration ONGC Oil price today Market news GAIL Oil prices

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-03 @ 10:33:42 (7 hours ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 457 words

Reading Time: 3 minutes read

Sentences: 28 lines

Sentence Length: 17 words per sentence (average)

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Copyright Owner: © Business Standard

News ID: 22857642

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