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Dream - Crude oil prices are now soaring and futures stocks in the United States (US) plummeted on Thursday, April 18, 2024. Following the explosions in cities in western Iran, as a result of Israel's retaliatory attacks on Iran.
"Crude Oil Price"
Market Watch reported that West Texas Intermediate crude oil for May delivery CLK24, +2.28%, surged more than 4%, while Brent crude oil for June delivery BRNM24, +2.22%, which is the international benchmark, surged towards US$90 per barrel.
US Stocks Decline
Meanwhile, the futures stock index in the US declined, with the Dow Jones Industrial Average futures index YM00, -0.91% dropping more than 400 points, and the S&P 500 futures index ES00, -1.02% and the Nasdaq-100 futures index NQ00, -1.26% dropping more than 1%.
Gold Price Rises
However, amidst the Israel-Iran tension, the price of gold actually rises. Market Watch notes that the price of gold GC00, +0.33% increased by 0.8%, reaching US$2,417.20 per ounce.
"Besides the economic sector, Israel's attack also caused commercial flights to face obstacles."
Associated Press reported that commercial flights in western Iran have diverted routes on Friday morning, local time. Meanwhile, commercial flights in Tehran have been suspended.
The news agencies, Fars and Tasnim, stated that "explosions" have occurred above the city of Isfahan, where Iran has an airbase and nuclear facilities.
CBS News reported that Israeli missiles have hit targets in Iran. There are also unconfirmed reports of explosions in Iraq and Syria, which are bases for militias supported by Iran.
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