US stocks rise and oil prices slip
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Stock futures were mixed on Sunday as investors weighed the impact of the escalating Israel-Iran conflict that shows no signs of any potential off-ramps ahead. Oil prices jumped after Israel attack key areas of Iran’s energy infrastructure over the weekend,
A sustained rise in the price of crude oil, which jumped sharply after Israel attacked Iran, could hurt consumers and President Trump’s efforts to bring down energy costs.
Kenyans are staring at higher fuel prices in the coming months as the Murban Crude Oil prices rise above KSh 9,000 per barrel amid Israel-Iran hostilities.
Ukrainian President Volodymyr Zelenskyy says rising global oil prices following Israeli strikes on Iran will strengthen Russia by increasing its oil revenues, aiding its war effort in Ukraine
U.S. oil prices already jumped last week, which could cause prices at the pump to rise about 20 cents a gallon in the coming weeks, according to one estimate.
Diamondback Energy stock rose 5% and Occidental Petroleum rose nearly 5% as a swathe of energy-related stocks reacted to a jump in crude prices after Israel's attack on Iran. Conoco-Phillips' stock rose 4%, ExxonMobil rose 3% and Chevron gained 2.7%.
Oil prices jumped on Wednesday as a U.S.-China trade deal and soft inflation report boosted demand expectations and geopolitical concerns sparked fear of supply disruptions.
Following Israel's military operation on Iranian nuclear sites, J.P. Morgan warns oil prices could surge to $120 a barrel if Middle East tensions escalate. Brent crude futures already jumped nearly 9%,