The reaction in Middle East stock markets suggested investors were assuming a benign scenario, even as Iran intensified its missile attacks on Israel.

The reaction in Middle East stock markets suggested investors were assuming a benign scenario, even as Iran intensified its missile attacks on Israel.

Based on the closing price of Brent crude on Friday, a 10% jump would send the global oil benchmark to nearly $85 per barrel.

Strikes stoke fears of escalating regional conflict that could shut down vital strait of Hormuz shipping route

Oil markets are reacting to the impact of a U.S. decision to directly enter the Iran-Israel conflict.

Oil markets are entering a new phase of uncertainty after the U.S. entered the war between Iran and Israel, said industry watchers.

Oil prices briefly hit five-month highs as investors anxiously waited to see if Iran would retaliate against US attacks on its nuclear sites.

Investors are unconcerned about major oil disruptions, reasoning that Iran is unlikely to close the Strait of Hormuz and harm its own economy.