Oil prices drop below $90 per barrel as Iran denies attacks

Oil prices have dropped below $90 per barrel, today, in the global market as Iran denies suspected missile attacks by Israel, which previously fueled speculation over possible supply disruption and market instability.

Contrary to speculation, an Iranian official told Reuters that there was no missile strike carried out against Iran, adding that the explosions in the Iranian city of Isfahan were, due to the activation of air defense systems of Iran.

However, a source at the London oil market, said: “The market responded positively, pushing prices to more than $93 per barrel in the early hours today, because of speculation that the alleged attack on Iran could lead to shortage.”

Background
Earlier, there were reports that oil prices briefly surged and stock markets slid Friday as unconfirmed reports said Israel had carried out retaliatory strikes against Iran, boosting investments deemed safer such as gold.


Log in to primsol.lawpavilion.com and enjoy the best E-journals, textbooks, and many more

To subscribe to Primsol, go to store.lawpavilion.com.

For further enquiries/assistance, send an email to [email protected] or call 08050298729


Iran’s state media reported explosions in the central province of Isfahan on Friday, as US media quoted officials saying Israel had carried out retaliatory strikes against its arch-rival.

“Asian markets bore the brunt of the breaking news of a retaliatory attack on Iran by Israel, also sending Dow futures sharply lower and resulting in further spikes in gold and oil prices,” noted Richard Hunter, head of markets at Interactive Investor.

“US markets will not have the opportunity to react directly to the developments until later, but the escalation will put pressure on the main indices, which were already lining up for a weekly drop.”

TRENDING: “Law and Technologies: Exploring the Evolving Intersection of Law and Technology” -By Fernandez Marcus-Obiene [ORDER NOW]



Call Bridget Edokwe Esq on 08060798767 or send your email to barristerngblog@gmail.com



The cost of the book is Seven Thousand Naira (N7,000) only. Call 08037667945 OR 08028636615 ;  or Email:princetonedu2012@yahoo.com; bookpublishing2017@gmail.com; princetonpub.com  to get your copy.




Author: Prof Theodore Okonkwo, Ph.D
: CALL: 08065159968; 08068771923: PRICES: N100,000 (SPECIAL EDITION), N60,000.00 (UNIVERSAL EDITION)


Digital Evidence and eDiscovery Law Practice in Nigeria -By Emeka Arinze Esq. [ORDER NOW] – For book cost & placing order, visit www.decfi.com.ng/order


Steps To Subscribe To the Court of Appeal Reports Nigeria


Get ‘Personal Property Law in Nigeria’ By Chief Mike A.A. Ozekhome, SAN (FREE)

Click below to download FREE

https://www.pulp.up.ac.za/monographs/personal-property-law-in-nigeria


ADVERTISEMENT

BESTSELLER: Commercial and Economic Law in Nigeria By Chief Mike Ozekhome, SAN [ORDER NOW]

To ORDER click the link

https://kluwerlawonline.com/EncyclopediaChapter/IEL+Commercial+and+Economic+Law/COMM20210001