The oil spill after the attack is the biggest in two years
The fall in oil prices of around 6 percent on Monday is the biggest loss in over two years, writes CNBC. The declines come after Iranian energy facilities were not damaged by Israeli strikes over the weekend. It increased the conditions for hostilities in the region to subside, writes Bloomberg.
- The real fear that oil would be removed from the world market has almost been eliminated, says Dennis Kissler, head of trading at BOK Financial Securities, to the news agency.
At 10 p.m., US crude oil and fuel oil were down 5.3 percent.
The fall in oil prices of around 6 percent on Monday is the biggest loss in over two years, writes CNBC. The declines come after Iranian energy facilities were not damaged by Israeli strikes over the weekend. It increased the conditions for hostilities in the region to subside, writes Bloomberg.
- The real fear that oil would be removed from the world market has almost been eliminated, says Dennis Kissler, head of trading at BOK Financial Securities, to the news agency.
At 10 p.m., US crude oil and fuel oil were down 5.3 percent.
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Iran proposes tripling military budget
Iran's government has proposed tripling its military budget, its spokeswoman Fatemeh Mohajerani said according to AFP.
According to Mohajerani, this would mean a "significant increase of more than 200 percent of the country's military budget".
The proposal comes after tensions with Israel escalated as both countries repeatedly carried out attacks on each other.
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