On the night of October 1, Iran launched a significant attack on Tel Aviv, Israel’s capital, firing 200 ballistic missiles. This escalation has heightened tensions, and Israel is now on high alert. In the wake of the attack, crude oil prices have surged, with Brent crude rising by 2.6% to $73.56 and West Texas Intermediate crude increasing by 2.4% to $69.83 per barrel.
The rise in crude oil prices is expected to impact petrol and diesel prices in India, as increases in international oil prices typically lead to higher fuel costs domestically. Following the missile attack, there were also reports of a shooting incident in Jaffa, resulting in eight fatalities. Israel has issued warnings across the country and is prepared to retaliate against Iran, with Prime Minister Binyamin Netanyahu vowing that Iran will face consequences similar to those experienced by Hamas and Hezbollah.
