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 Upcoming Jobs and CPI Reports Crucial for Fed's Interest Rate Decision READ MORE Geopolitical Strains Fail to Boost Oil Prices as Markets React Cautiously READ MORE Japan Raises Interest Rates for First Time in 17 Years READ MORE Trump Assassination Attempt Fuels 'Trump Trade' Surge in Global Markets READ MORE Fed Officials Debate Future of Goods Price Declines Amid Inflation Fight READ MORE Add a Comment Cancel replyYour email address will not be published.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