Missile Rumors Fire Up Oil Prices

Oil prices are surging in the wake of rumors that Iran is preparing to launch a missile attack on Israel. Reports from U.S. officials suggest that an Iranian missile strike is imminent—the specter of which is driving uncertainty across global markets. As of today, West Texas Intermediate (WTI) crude is trading at $70.16 per barrel, up 2.92% (+$1.99), while Brent crude is also seeing significant gains, trading at $73.61 per barrel, up 2.66% (+$1.91). The potential for an armed conflict between Iran and Israel has triggered concerns about the…