Oil Markets React to Missile Strike in Damascus Sparks Fear On the first day of Q2 trading, crude oil futures experienced a price increase following reports of a missile strike on the Iranian consulate in Damascus, Syria. West Texas Intermediate for May delivery rose by 54 cents to $83.71 a barrel, while Brent for June delivery climbed 42 cents to $87.42 a barrel. Reports indicated that the strike, attributed to Israel, resulted in casualties including Mohammad Reza Zahedi, a senior commander of Iran’s Revolutionary Guard. Analyst Leo Mariani suggested that this incident could escalate Middle Eastern conflict, potentially driving oil prices higher in the near term. « Previous Article Next Article » Share This Article Choose Your Platform: Facebook Twitter Google Plus Linkedin Related Posts Silver Rally Stalls Amid Speculative Overload: What’s Next? READ MORE Trump Threatens 100% Tax on Imports from Countries Ditching the Greenback READ MORE Yield Curve's Predictive Power in Question as Economic Growth Continues READ MORE Gold Expert Talks 2024 Outlook, Plus Forecast for Silver, Platinum and Palladium READ MORE The Deadline To Turn in Your Gold – May 1st, 1933 READ MORE Add a Comment Cancel replyYour email address will not be published. Required fields are marked *Name * Email * Save my name, email, and website in this browser for the next time I comment. Comment