Oil prices rose again on Thursday, May 10, following the Israeli attack on Iranian targets in Syria. This is in retaliation for a rocket attack by Iranian forces on Israeli territories. The confrontation further fueled concerns about the unrest in the Middle East. That reports Business Insider.
The price of 1 barrel American oil (159 liters) was up 0,7% at noon at $71,63. Brent oil rose 0,4% to $77,50 a barrel. This means that the prices are at the highest level since the autumn of 2014† Oil prices also rose on May 9, shortly after US President Donald Trump canceled the Iran nuclear deal.
Fierce Attacks
Israel says it hit nearly all of Iran's military infrastructure in Syria with the missiles the country fired on Thursday. The missiles that Iranian forces had previously fired into Israeli areas did not hit any targets.
These were the most violent attacks by Israel on Syria since the start of the civil war in 2011. In that battle, Iran supports the regime of President Bashar al-Assad. The parties are being urged to take it easy from various quarters, examples of which are Russia and France.
Battles over?
Israeli Defense Minister Avigdor Lieberman said he hopes the fighting is over. "I hope we can close this chapter and that everyone got the message."
The shelling came hours after President Trump announced that the US was canceling the agreement on Iran's nuclear program.
Read more on Business Insider:
- Oil price falls after Trump concludes on Syria: mission accomplished
- Israel may argue with Iran as long as Assad is not directly threatened
- The US has deployed 2 new weapons in the action in Syria
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