After the incident of an Israeli missile attack on a target in Iran, the price of fuel oil increased in the world market.
Oil prices rose to $3 a barrel on Friday on fears that Middle East oil supplies could be disrupted after an Israeli missile attack, according to a Reuters report. However, the rate of growth has slowed slightly since then.
Brent crude rose $2.63 cents, or 3 percent, to $89.74 a barrel after the attack on Iran, according to Reuters. At the same time, the price of West Texas Intermediate, or WTI, crude increased by 2 dollars 56 cents, or 3.1 percent, to 84 dollars 66 cents per barrel.
However, shortly after the price increase, according to data from OilPrice.com, the price of Brent crude fell slightly to 88 dollars and 76 cents per barrel. On the other hand, the price of WTI crude is at 84.53 cents.
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American broadcaster ABC News reported this Friday morning that Israel launched a missile attack on a target in Iran. Iran’s state media later said the country’s security forces had destroyed several drones. The attack came days after Iran’s attack on Israel.
Iran’s Fars news agency reported that the explosion was heard close to an army base in the Iranian capital of Isfahan.  It was not a missile strike, an Iranian official told Reuters. The explosion occurred due to the activation of Iran’s defense system.
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According to Iran’s state television, three drones were seen in the sky of Isfahan shortly after midnight. Air defense systems were immediately activated. And as a result, the drones are destroyed in the sky.
Iran launched an unprecedented drone and missile attack on Israel last Saturday. Earlier, the fear that Iran may attack Israel increased the price of fuel oil. On April 12, the price of WTI crude per barrel increased by 1.14 dollars, or 1.34 percent, to 86.15 US dollars. On the other hand, the price of Brent crude rose by 1.04 dollars, or 1.16 dollars, to 90.79 dollars per barrel.
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