With no letup in the bombing and missiles between Israel and Iran, crude oil prices shot up nearly as fast as the exchange of warfare is taking place between the two Middle East countries.
Prices rose about 3% Thursday as the fighting kept investors on edge about the prospects of how the war might interrupt the flow of Middle East war onto the global market.
There was no indication of any slowdown in the war as Iran warned against a “third party” joining the attacks and Israeli Prime Minister Benjamin Netanyaha said Tehran’s “Tyrants” would pay the “full price.”
The international benchmark, Brent crude gained 2.8% or $2.15 and settled at $78.85 a barrel. It was the highest close for Brent since January 22.
West Texas Intermediate crude, the U.S. benchmark, rose $2.06 or 2.7% and finished the day at $77.20 a barrel on the New York Mercantile Exchange.
Another split day for Oklahoma energy stocks. While Unit Corporation had the biggest percentage loss at 5%, Stardust Power had the biggest gain of the day at about 5%.
