Middle East Tensions Fuel Oil Prices Jump Over 9%  MHM NEWS - video Dailymotion

Middle East Tensions Fuel Oil Prices Jump Over 9%

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00:00Middle East tensions fuel oil prices jump over 9%.

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00:11Oil supply disruption fears have surged due to dramatically escalating tensions in the Middle

00:16East after Israel's attack on Iran. As a result, global oil prices have jumped by more than 9%

00:22in just a few hours, the highest in five months. According to Qatari media outlet Al Jazeera,

00:29the future price of Brent crude has surged by over $6 per barrel in one go, now exceeding $75.

00:36For a brief period, it even reached nearly $79, the highest since January. The price of West Texas

00:44Intermediate, WTI, another type of crude oil from America, has also increased by more than $6,

00:51now above $74. This, too, has reached its highest level since January.

00:56Today's oil price increase is the largest single-day jump since 2022. Matt Simpson,

01:03a senior market analyst at Citi Index in Brisbane, Australia, told Reuters,

01:07The question is, is this just a typical geopolitical market reaction where there's a lot of hype but no

01:13real outcome? Or is the U.S. truly on the brink of war in the Middle East? Meanwhile, in other market

01:20sectors, particularly in early Asian trading, share prices have fallen sharply, with the most

01:26significant selling pressure on U.S. futures. Local media reports indicate that investors are

01:31flocking to safe-haven assets like gold and the Swiss franc. Hirofumi Suzuki, chief foreign exchange

01:38strategist at SMBC in Tokyo, said that the impact of heightened geopolitical risks is clearly felt in

01:44the foreign exchange market. The increased demand for risk-free assets could also lead to higher demand

01:50for the Japanese yen.