Iran, Israel and Oil
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11hon MSN
Crude oil futures jumped more than 3% Sunday after Israel struck two natural gas facilities in Iran, raising fears that the war will expand to energy infrastructure and disrupt supplies in the region.
The Israeli military claims its campaign has eliminated high-value targets, including nine senior scientists, and severely damaged Iran’s nuclear infrastructure. Iranian authorities confirmed damage to four critical buildings at the Isfahan uranium conversion facility,
The past two years of escalating tensions in the Middle East have taught oil traders to be sanguine about the risk of disruption to oil supplies.