Iranian attend the funeral procession for seven Islamic Revolutionary Guard Corps members killed in a strike in Syria, which Iran blamed on Israel, in Tehran on April 5, 2024.
Atta Kenare | Afp | Getty Photos
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U.S. crude oil futures fell on Monday because the market waited for Iran to retaliate towards Israel over a missile strike towards the Islamic Republic’s consulate in Damascus.
The West Texas Intermediate contract for Might supply fell 60 cents, or 0.69%, to $86.31 a barrel. The June Brent contract misplaced 68 cents, 0.71%, to $90.96 a barrel.
A prime Iranian army advisor warned Israel over the weekend that its embassies could possibly be focused. Tehran has blamed Israel for a missile strike final Monday towards its consulate in Damascus, which killed prime Iranian commander Mohammad Reza Zahedi.
“Not one of the embassies of the (Israeli) regime are secure anymore,” mentioned Gen. Rahim Safavi, an advisor to Iran’s supreme chief Ayatollah Ali Khamenei.
The mounting tensions between Israel and Iran have renewed fears that direct confrontation between the 2 might ignite a regional battle that disrupts crude provides.
Negotiations for a ceasefire within the Israel-Hamas warfare are going down in Cairo. A Hamas official instructed Reuters no progress has been made Monday.
