Iran, Israel and Oil
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10hon MSN
Oil futures jumped as the market reopened Sunday night, building on last week’s surge after Israel attacked Iranian energy facilities over the weekend and underlining fears around potential disruption to Middle Eastern crude flows.
Never try and predict what the price of oil is going to be, because there’s one sure thing: You’re going to be wrong,” says Baker Hughes CEO Lorenzo Simonelli.
The sweeping attacks by Israel, which began early Friday, have killed more than 70 people, including four of Iran’s top security chiefs, and damaged Iran’s main nuclear site at Natanz. Iran retaliated by launching scores of missiles at Israel. At least three people have been killed and dozens more wounded during these attacks.