Oil soars on the international market after Iran’s attack on Israel

Oil prices registered a sharp rise in the international market this Tuesday (1st) after Iran fired missiles at Israel.

The escalation of the conflict in the Middle East caused the Brent barrel, a global reference for the price of crude oil, to exceed 5% at around 2 pm.

Brent fell and, at 4 pm, registered an increase of 2.97%, quoted at US$ 73.81. At the same time, WTI, the standard used by the United States, rose 2.85%, quoted at US$70.11.

Petrobras shares were also impacted, with PETR4 rising 3%, to R$37.09, and PETR3 rising 2.78%, to R$40.36.

After 4pm, Ibovespa, the main index of the Brazilian stock exchange (B3), had appreciated by 0.75%, to 132,802.05 points. In the same period, the dollar rose 0.23%, reaching R$5.46.

Rising tension in the Middle East

Iran’s Revolutionary Guard confirmed this Tuesday (1st) the launch of missiles against Israel in response to the assassinations of Hamas leader Ismail Haniyeh, the head of the Lebanese Shiite group Hezbollah, Hassan Nasrallah, and an Iranian general.

“We warn that if the Zionist regime responds militarily to this operation it will be counterattacked in a more forceful way,” said the Revolutionary Guard.

In a statement, the Iranian mission to the UN described the attack as a “legal, rational and legitimate response to the terrorist acts of the Zionist regime against Iranian citizens and interests and for violating the sovereignty of the Islamic Republic.”

Furthermore, he advised Israel’s “states and regional allies” to distance themselves from Israeli territory. The Israeli Army announced the attack shortly before and anti-aircraft alarms sounded across the country.

This is Iran’s first attack against Israel since April, when it attacked two Israeli air bases with missiles and drones in response to the killing of seven members of the Revolutionary Guard at the Iranian consulate in Damascus, in an action that did not cause major damage. (With EFE Agency)