Oil price data from financial market platforms like Bloomberg or Reuters

Netanyahu Approves Military Strikes on Iran After October 1 Attack; Oil Prices Drop

Oct 15, 2024, 03:52 AM

Israeli Prime Minister Benjamin Netanyahu has reportedly approved plans to attack Iran in response to Iran's missile attack on Israel on October 1. The planned strikes will focus on Iranian military targets, avoiding nuclear and oil facilities, according to reports from the Washington Post. Israel has informed the United States of its intentions, and Netanyahu's decision to limit the scope of the attack has been met with relief in Washington. The U.S. is concerned that targeting sensitive sites could lead to a dramatic escalation in the region. Additionally, the U.S. is deploying the THAAD missile defense system to Israel. The announcement of Israel's plans has led to a significant drop in oil prices, with Brent crude futures falling over $3 per barrel and WTI crude oil prices dropping from $77 to $74.