Market News
An Israeli attack on Iran could send oil prices above $100 as tensions mount - CNBC
Key Points
- The jury is out as to whether the moves are a pressure play ahead of upcoming U.S.-Iran nuclear talks, or whether the U.S., Israel and Iran are truly on the verge of conflict.
- Israel appears ready to attack Iran, according to reports citing U.S. and European officials, and Israeli Prime Minister Benjamin Netanyahu has been pressing Trump to allow strikes.
- Oil traders are focusing on the potential of a wider conflict shutting down the Strait of Hormuz, a critical chokepoint through which 20% of the volume of the world’s total oil consumption passes daily.
