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 Markets on Edge: Continuing Coverage of Regional Banking Crisis READ MORE Zimbabwe Keeps Interest Rate at 20%, Predicts Inflation Below 5% by Year-End READ MORE Inside Job at Toronto Airport Leads to $16.5 Million Gold and Cash Heist READ MORE Precious Metals on a Winning Streak: Time for a Hard Money Heat Check READ MORE Gold Hits New Highs with Strong COMEX Positioning and ETF Inflows READ MORE Add a Comment Cancel replyYour email address will not be published.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