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Global oil prices jumped dramatically on Friday following reports that an Israeli missile had struck a site inside Iran. The news immediately sent shockwaves through the financial markets, fueling fears of a wider, direct conflict between the two regional powers.
The price of Brent crude, the international benchmark, surged by more than 3% to top $90 a barrel, while the U.S. benchmark, West Texas Intermediate, saw a similar spike. This knee-jerk reaction highlights the market's sensitivity to instability in the Middle East, a region critical to the world's oil supply.
This reported Israeli action is widely seen as a retaliation for Iran's unprecedented drone and missile attack on Israel just days earlier. The escalation from a long-running "shadow war" to direct military strikes has investors on edge.
Analysts note that any disruption to oil production or shipping routes in the region, such as the vital Strait of Hormuz, could severely tighten global supply and send prices even higher. While details of the Israeli strike remain limited, the event itself has introduced significant uncertainty and a high-risk premium into the energy market. For now, the world is watching nervously to see if the situation escalates further or if de-escalation efforts prevail.
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