Iran, Israel and crude oil
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Israel hit several energy facilities in Iran over the weekend while Iranian missiles struck an oil refinery in Haifa.
Oil prices have increased in recent sessions amidst the Israel-Iran conflict. A TD Cowen strategist doesn't expect a further increase in oil prices.
US and Brent crude prices jumped on fears of supply disruption from the Middle East as Iran has repeatedly threatened to close a key shipping route.
Philadelphia market increase in the average of regular erases decline from a week ago. Analyst says that the longer the conflict goes, the more the increase.
Selling pressure on 10-year US Treasuries from the latest round of Israel-Iran conflict is likely to have a lasting effect if past episodes of clashes between the two nations are any guide.
Gas prices "will likely start to rise across much of the country later this evening in response to Israel's attacks on Iran, which have caused oil prices to surge," Patrick de Haan, the head of petroleum analysis at GasBuddy, said on Friday in a post on X.
Every fresh negative headline may cause temporary jitters, but the broader trend remains bullish, says a market expert