Oil hits highest level since Oct. amid fears of Iranian retaliation
3 Min Read
Oil hits $92 a barrel, rising as much as 2.6%.
-
Iranian leader Sayyed Ali Khamenei attends a meeting with officials in Tehran, on Wednesday, April 3, 2024. (AP)
"Israel" is wary of a direct and unprecedented strike by Iran on government sites as early as Saturday, a move which has the potential to ignite a regional war, according to persons familiar with Western intelligence assessments.
The anonymous sources told Bloomberg that they predicted that a drone and precision missile bombardment would occur within the following 48 hours.
Israeli media reported on Friday that Iran's threat to retaliate for the assassination of Quds Force leaders in the attack that targeted its consulate in Syria has left "Israel" paralyzed with fear.
This development comes in the wake of fears of targeting Israeli occupation forces abroad. Israeli media in recent days has discussed the rising fear within the Israeli occupation of Iran's response.
Due to its fear of retaliation, the occupation closed 28 of its legations worldwide, according to Israeli media reports.
US President Joe Biden said Friday he was expecting Iran's retaliation against an Israeli strike "sooner than later," warning Tehran not to launch an attack on the Israeli occupation entity.
Meanwhile, oil rose to its highest level since October, rising as much as 2.6% to $92 a barrel. Futures have risen by 19% this year, with the Israeli war on Gaza adding a risk premium to the market.
In early April, Russian Deputy Prime Minister Alexander Novak stated that global oil prices are increasing partly due to the heated situation in the Middle East, which has recently seen significant escalations.
Novak also pointed out that OPEC+ takes into account the geopolitical factors before making decisions regarding oil outputs.
The World Bank warned last October that the Israeli war on Gaza may push global oil prices as high as $157 per barrel in extensive interruption.
Despite the fact that the world economy is currently doing better than it did in the 1970s, the World Bank issued a warning that the conflicts in the Middle East and Ukraine may force the world's commodity markets into uncharted territory.
Iran to US: Involvement with 'Israel' will put your forces under fire
Meanwhile, Iran sent a message to the White House through mediators, explaining that if the United States gets involved on "Israel's" side in a possible confrontation, US forces in the region will be attacked, three US officials told Axios.
The possibility of Iranian retaliation against Israeli targets within occupied territories has spurred Israeli authorities to mobilize forces and agencies for the past 11 days, anticipating a large-scale attack or precision attack on strategic assets. "Israel's" anti-air coverage is nowhere near capable of foiling a large-scale multi-faceted Iranian attack. This means that the US air defense systems in the area will most likely be put on high alert in an attempt to intercept incoming ballistic missiles.
The nature of the response remains largely unknown, with speculation that the attack will match the level of the Israeli crime, rather than escalate confrontations in the region.
According to Axios, the Israeli occupation and the US believe that the attack would include the launch of ballistic missiles, cruise missiles, and attack drones from Iran to Israeli-occupied territories.
