Oil prices jump 1% with Israel-Iran tensions, PMIs in focus
Investing.com-- Oil prices rose sharply in Asian trade on Thursday after Israel harshened its rhetoric against Iran, while focus turned to upcoming business activity data from several major economies due in the coming days.
His comments were made amid growing anticipation of a strike against Iran in retaliation for an October 1 attack, which was Tehran’s second major attack on Israel in six months. Israel also ramped up its offensive against Hamas and Hezbollah this week, prompting retaliation from the two military groups.
Strength in major global economies also presents a brighter outlook for crude demand, although sluggish growth in top oil importer China is likely to offset this trend.Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors.
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