Mohale FM Global oil prices jumped and stocks fell sharply today in Asia, after the US-Israel war with Iran entered its fifth week.
The price of Brent crude rose by more than 3% a barrel, while US-traded oil climbed and gained almost 2%. It puts Brent on track for its biggest monthly gain on record.
It comes after Iran-backed Houthi rebels in Yemen joined the conflict by striking Israel over the weekend and Iran threatened to expand retaliatory strikes against universities and the homes of US and Israeli officials.
Meanwhile, United States President Donald Trump said in an interview with the Financial Times yesterday that he could “take the oil in Iran” and possibly seize its major fuel hub of Kharg Island.
