Oil prices immediately reacted to the Israeli attack

Rising tensions weigh on share prices in Asian stock markets.

Hellas-Fos oil tanker at Ningbo-Zhoushan port in China on April 9, 2024. AOP/Imago game

Crude oil prices rose in the global market after Israel attacked Iran early on Friday.

As of 8:12 am, WTI May futures were up 2.10 percent at $84.47.

Brent crude for June delivery rose 1.95 percent to $88.81.

Immediately after the attacks, the prices of both qualities were rising by around 4 percent, so the rise in the morning has clearly leveled off.

Tensions also rose in Asian stock markets. The Nikkei index, which tracks the Tokyo stock market's performance, was down 2.5 percent at 8:15 a.m. Finnish time. Futures anticipating the opening of the U.S. stock market are also falling.

Rising oil prices have strongly raised inflation concerns. The market is now weighing the possibility of yet another postponement of an expected interest rate cut by the US central bank, the Fed.

Hamas fired rockets into Israel, for example, earlier in the year. Hamas / Reuters

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