Financial expert Stephen Innes has warned of one factor which could further impact oil prices.
He said: “The Middle East powder keg just blew the lid off global markets.”
Mr Innes described Israel’s attacks deep into Iranian territory as marking the most aggressive escalation yet in a regional shadow war that’s been simmering for years.
The expert said: “Equity futures are plummeting. Bond yields are sinking. Gold and oil are skyrocketing.
“Brent crude futures are racing toward the mid-$70s range – but if the Strait of Hormuz, which accounts for 20% of global oil flows, finds itself in the blast radius, you can add another $15 to the bid.”
